Infrastructure company Larsen and Toubro Ltd (L&T) has acquired 26% equity in consulting and engineering firm Feedback Ventures Pvt. Ltd for Rs40 crore. L&T was one of Feedback’s largest clients in 2006-07, the company said in a press statement.
Promoters of Feedback Ventures also increased their holding to 46%, buying out investors such as real estate company DLF Ltd, while infrastructure finance company Infrastructure Development Finance Corp. Ltd reduced its equity stake to 16%.
With this new status the Feedback Ventures management hopes to significantly enhance its presence in most infrastructure sectors by working alongside L&T, both domestically and internationally.
The company, which employs 800 professionals, provides engineering and project management advisory services. (Livemint)