Fairtrade 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.
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%.
Through another tweet, the regulator said that the “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 the counter products.