{"id":40412,"date":"2022-05-05T21:47:11","date_gmt":"2022-05-05T16:17:11","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-future-grp-generali\/"},"modified":"2022-05-05T22:49:12","modified_gmt":"2022-05-05T17:19:12","slug":"biz-future-grp-generali","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-future-grp-generali\/","title":{"rendered":"Future Group sells 25% stake in FGIICL to JV partner Generali for Rs 1,266 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-233122747\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, May 5 (PTI) Debt-ridden Future Group on Thursday said it has completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for Rs 1,266.07 crore as part of its asset monetisation plans to pair debts.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1312584644\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>After receiving mandatory approvals from the government and key regulators, the sale of a 25 per cent share took place on Thursday, a regulatory filing by Future Enterprises Ltd (FEL) said.<\/p>\n<p>&#8220;Pursuant to receipt of the key approvals from governmental and regulatory authorities, the said transaction has been consummated on 5th May 2022. Pursuant to the consummation of the transaction, the Company has sold 25 per cent shares for a consideration of Rs 1,266.07 crore,&#8221; it said.<\/p>\n<p>Post completion of the transaction, FEL will continue to hold directly and indirectly 24.91 per cent shares in FGIICL, the group firm said.<\/p><div class=\"trade-content_5\" id=\"trade-3170712581\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Earlier on January 26, 2022, FEL announced to sell its 25 per cent stake in FGIICL to Generali Participations Netherlands NV (Generali).<\/p>\n<p>As part of the deal, Generali has an option to buy out FEL\u2019s remaining interest in FGIICL &#8220;directly or through a nominee&#8221; at an agreed valuation, subject to applicable regulatory approvals, FEL had said earlier.<\/p>\n<p>Moreover, FEL had also said that it was exploring the options to sell its 33.3 per cent stake in its Life Insurance JV &#8211; Future Generali India Life Insurance Company Limited (FGILICL), as it progresses on its plans to monetise its investment in its insurance joint ventures with Generali.<\/p>\n<p>FEL, part of Kishore Biyani led Future Group firm, develops, owns and leases the retail infrastructure for the Future Group, which owns and operates retail chain as big bazaar and Easyday and Heritage, among others.<\/p>\n<p>Last month, FEL defaulted on repayment of Rs 2,911.51 crore of loans to its lenders. The total financial indebtedness of the listed entity, including short-term and long-term debt is Rs 6,778.29 crore. PTI KRH  KRH BAL BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-4262766651\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, May 5 (PTI) Debt-ridden Future Group on Thursday said it has completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for Rs 1,266.07 crore as part of its asset monetisation plans to pair debts. After receiving mandatory approvals from the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-40412","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Future Group sells 25% stake in FGIICL to JV partner Generali for Rs 1,266 cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-future-grp-generali\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Future Group sells 25% stake in FGIICL to JV partner Generali for Rs 1,266 cr\" \/>\n<meta property=\"og:description\" content=\"New Delhi, May 5 (PTI) Debt-ridden Future Group on Thursday said it has completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for Rs 1,266.07 crore as part of its asset monetisation plans to pair debts. 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