Future Group looks at Selling its Stake in Insurance JV to Italian Partner
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28 January 2022, Mumbai:
Future Group plans to sell à 25% in Its general Insurance joint Venture Future Generali India Insurance Co Ltd to its Italian partner Generall Group for 1,252 crores, the company saidd on Thursday.
"Future Enterprise progresses on its plan to monetize its Investment in its insurance joint ventures with Generalli,agrees to sell 25% equity in the Generalli insurance JV,".
Future Enterprise is scheduled to pay around 2200 crore in debt instalment in March as a part of one time restructuring (OTR) of its Ioans with the lenders and the sell-off is part of the Indian group's plans to raise money to clear its dues to the bank, a person familiar with the devolpment said.
CREDITS: ET dt 28-01-2022
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