News > Future to sell 25% stake in insurance JV to Generali for Rs 1,253 cr

Future to sell 25% stake in insurance JV to Generali for Rs 1,253 cr

The Hindu | 27/01/2022 10:49 AM | Click to read full article

Debt-ridden Future Group has announced that it will sell its 25 per cent equity in Future Generali India Insurance Company Limited (FGIICL) to its JV partner Generali for a cash consideration of Rs 1,252.96 crore as part of its asset monetisation plans to pair debts.

Besides, Generali has also acquired an option to buy out the Future Enterprises Limited's (FEL) remaining interest in FGIICL, which operates in the general insurance business.