Generali buys 25% stake in Indian insurance JV from embattled Future Group

The transaction valued $165.21m.

Debt-saddled Future Group has sold its 25% stake in Future Generali India Insurance Company to its joint venture partner Generali, turning the latter into a majority stakeholder.

The transaction was valued at around $165.21m. Future Group subsidiary, Future Enterprise will continue to hold 24.91% of the insurance business, both directly and indirectly.

According to the structure of the deal, Generali will have an option to buy out Future Enterprises’ remaining stakes in Future Generali India Company either ‘directly or through a nominee” at an agreed valuation, subject to regulatory approvals.

Last April, Future Enterprises defaulted on its $380m loans to various creditors, with long and short-term debts totaling over $870m.

Follow the link for more news on

Generali

Generali Majority Stake Acquisition

Also Read

APAC reinsurers poised for growth on the back of sustained demand

Double-digit premium growth lifts AIA to record value of new business in Q3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit