Some time ago,the government had notified a liberalised FDI regime by allowing foreign investors to acquire up to 74 percent in the insurance sector, So generali ajoint venture partner in Future-generali general insurance co. has struck deal with future group to buy 25% more stake in the JV.

The insurance giant will pick up a 25 percent stake owned by the Future Group in Future Generali India Insurance for a cash consideration of around Rs 1,253 crores, plus an additional consideration that is linked to the date of the closing of the transaction.

Generali has also acquired an option to buy out the Future Group’s remaining interest in Future Generali India Insurance, directly or through a nominee, at an agreed valuation so thefuture group’s stake will come down to 24.91 percent after the sale of stake to Generali.

This is also made known that Future Enterprises has received offers from potential buyers for its remaining 24.91 percent interest in Future Generali India Insurance.

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