Future Enterprises has sold 25% stake in general insurance joint venture (JV) Future Generali India Insurance Company (FGIICL) to its partner Generali Participations Netherlands N.V. for Rs 1,266.07 crore.
Following the receipt of key approvals from regulatory authorities, the transaction was consummated on May 5. After the sale, Future Enterprises continues to hold, both directly and indirectly, 24.91% shares in FGIICL.
Future Enterprises develops, owns and leases the retail infrastructure for the Group. The company also holds the Group’s investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics.
