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Future Enterprises has agreed to sell a 25 per cent stake in its general insurance joint venture to its Dutch partner for Rs 1,252.96 crore, or Euro145 million, in cash, and an additional consideration linked to the date of the closing of the transaction.
Once the transaction is done, Generali Participations Netherlands N. V. (Generali) will hold around 74 per cent in Future Generali India Insurance Company Ltd (FGIICL), the joint venture.
Generali has also acquired an option to buy the company’s remaining interest in the venture, directly or through a nominee. The transaction is subject to regulatory approvals and other conditions.
