Italy's Generali Group will raise its stake in Indian insurance joint ventures -- Future Generali India Life Insurance Company and Future Generali India Insurance Company -- to 49 per cent from 25.5 per cent at present.
In a regulatory filing, Kishore Biyani-led Future Enterprises said it has entered into amended and restated joint venture agreements pertaining to its insurance JVs with Generali Group.
Future Enterprises said the purpose of entering into the agreement is "to increase Generali's stake in insurance ventures...to 49 per cent from present 25.5 per cent subject to necessary regulatory and statutory approvals."
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