Engineering major, Larsen & Toubro (L&T) has entered into a definitive agreement for the divestment of its entire stake in its unlisted and wholly owned subsidiary L&T Cutting Tools, to IMC International Metalworking Companies BV, owned by the Warren Buffett-led Berkshire Hathaway Inc. for Rs. 174 cr ($27.18 million USD) as reported by Business Standard, Livemint and others

DSK Legal partner Tushar Ajinkya and Chirag Jain, Aakriti Dubey and Prachi Gupta advised and assisted IMC International Metalworking Companies in the acquisition.

Link Legal partner, Manish Gupta along with associate partner Alok Sonker and associate Keya Salot advised and acted for Larsen & Toubro (L&T) and the company.

The deal is expected to be completed within 90 days from the date of execution of the share sale and purchase agreement. L&T Cutting Tools, incorporated in 1952, manufactures fabricated metal products and had a net worth of Rs 41.4 crore as of March 2017.