Latest News | Generali Participations Gets CCI Nod to Hike Stake in Future Generali India Insurance Company

New Delhi, Mar 15 (PTI) Fair trade regulator CCI on Tuesday gave its go ahead to Generali Participations Netherlands N.V. to increase its stake in Future Generali India Insurance Company Ltd to around 74 per cent.

Generali Participations Netherlands (GPN) is an existing shareholder of Future Generali India.

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GPN proposes to acquire nearly 25 per cent of the equity share capital of Future Generali India held by Future Enterprises Ltd, as per a combination notice filed with the regulator.

Pursuant to the transaction, GPN's aggregate, direct and indirect, shareholding will stand increased in the company from 49 per cent to approximately 74 per cent.

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"Commission approves acquisition of certain equity stake in Future Generali India Insurance Company Limited by Generali Participations Netherlands N.V.," as per a tweet by the regulator.

Through another tweet, the regulator said that "Commission approves acquisition of Micro Life Sciences by South Elm Investments B.V."

The transaction involves acquisition of minority stake in Micro Life Sciences by the acquirer, combination notice filed with the regulator said. South Elm Investments is an investment holding company and its shareholders are certain private equity funds managed by Warburg Pincus LLC.

It does not have any physical presence in India, the notice added. Micro Life Sciences is primarily engaged in the manufacture and sale of medical devices, in-vitro diagnostics analyzers and reagents over the counter products.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)