Larsen & Toubro is in pact to sell its entire 51% stake in L&T Kobelco Machinery Private to its joint venture partner in the company, Kobe Steel of Japan, for Rs 43.5 crore. The stake sale is a part of L&T’s strategy to exist some non-core businesses or subscale businesses, to focus more on its core business of engineering and construction and services.

(Economic Times)