Generali Buys $166 Million India JV Stake From Embattled Partner
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Assicurazioni Generali SpA will buy a 25% stake in an Indian general insurance company from its joint-venture partner Future Group as the embattled conglomerate seeks to raise cash to pay back debt.
Future Enterprises Ltd. agreed to sell the stake in Future Generali India Insurance Co. to a subsidiary of the Italian insurer for 12.5 billion rupees ($166 million), plus an additional consideration that is linked to the date of the deal closing, it said in an exchange filing.