CCI approves acquisition of equity stake in Future Generali India Insurance Company Limited by Generali Participations Netherlands N.V

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CCI approves acquisition of equity stake in Future Generali India Insurance Company Limited by Generali Participations Netherlands N.V

By PIB Delhi

The Competition Commission of India (CCI) approves acquisition of equity stake in Future Generali India Insurance Company Limited by Generali Participations Netherlands N.V.

Generali Participations Netherlands N.V. (GPN / Acquirer) is a wholly-owned subsidiary of Assicurazioni Generali S.p.A (“Generali Group”), the ultimate parent entity of the Generali group of companies. The Generali Group is a global insurance provider and is present in the general insurance industry in India through FGIIC.

Future Generali India Insurance Company Limited (FGIIC / Target) is a general insurance company engaged in the provision of non-life or general insurance services in India.

The proposed combination relates to an acquisition of shares of FGIIC by GPN, an existing shareholder of FGIIC. GPN proposes to acquire approx. 25% of the equity share capital of FGIIC held by Future Enterprises Limited, pursuant to which GPN’s aggregate (direct and indirect) shareholding in FGIIC will stand increased from 49% to approx. 74%.

Detailed order of the CCI will follow.

About Post Author

Suman Munshi

Founder Editor of IBG NEWS (15/Mar/2012- 09/Aug/2018). Recipient of Udar Akash Rokeya Shakhawat Hossain Award 2018. National Geographic & Canon Wild Clicks 2011 jury and public poll winner. Studied Post Graduate Advance Dip in Computer Sc., MBA IT,LIMS (USA & Australia), GxP(USA & UK),BA (Sociology) Dip in Journalism (Ireland), Diploma in Vedic Astrology, Numerology, Palmistry, Vastu Shastra & Feng Sui 25 years in the digital & IT industry with Global MNCs' worked & traveled in USA, UK, Europe, Singapore, Australia, Bangladesh & many other countries. Education and Training advance management and R&D Technology from India, USA, UK, Australia. Over 30 Certification from Global leaders in R&D and Education. Computer Science Teacher, IT & LIMS expert with a wide fan following in his community. General Secretary West Bengal State Committee of All Indian Reporter’s Association
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