Articles > Reference > News Wires, White Papers, and Books > The Hindustan Times news wires > April-June 2006 > Wednesday, May 17

Article: L&T VENTURES INTO DREDGING

Article from:
The Hindustan Times
Article date:
May 17, 2006
Copyright

MUMBAI, India, May 17 -- The Bombay Stock Exchange Limited (BSE) made the following corporate announcement:

Larsen & Toubro Ltd., announced that company has made a foray into the dredging business by acquiring a majority stake in the Indian entity, International Seaport Dredging Pvt. Ltd., promoted by Belgian dredging multinational, Dredging International NV.

Following the shareholders' agreement entered into on January 25, 2006 with Dredging International, the company has infused equity to acquire 61% stake of the Indian venture of Dredging International headquartered at New Delhi. Dredging International will hold the balance 39%.

Dredging International (DI) is part of the DEME Group ...

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