Future Enterprises gets board nod for divestment

Kishore Biyani's Future Enterprises today said its board has given in-principle approval for considering various divestment options for investments held by the company.

The company was responding to media reports that Future Enterprises is looking to sell 50 per cent stake in its insurance venture Future Generali.

"The board has given in-principle authority for considering various divestment options for investments held by the company," Future Enterprises said in a regulatory filing.

It, however, denied having arrived at any such binding transaction or final understanding till date.

Shares of Future Enterprises were trading 14.68 per cent higher at Rs 33.20 on the BSE.