Future Enterprises has informed that the Company has agreed to sell a 25% stake in its General Insurance Joint Venture, Future Generali India Insurance Company (FGIICL) to its Joint Venture partner, Generali Participations Netherlands N. V. (Generali) for a cash consideration of INR 1252.96 crores, plus an additional consideration that is linked to the date of the closing of the transaction. Please note that the transaction is subject to, inter alia, receipt of applicable regulatory approvals and other customary conditions, as mutually agreed between the parties.
The above information is a part of company’s filings submitted to BSE.
