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TMI BlogCCI approves acquisition of shares of Future Generali India Life Insurance Company Limited by Generali Participations Netherlands N.VX X X X Extracts X X X X X X X X Extracts X X X X ..... CCI approves acquisition of shares of Future Generali India Life Insurance Company Limited by Generali Participations Netherlands N.V - News and Press Release Dated:- 24-1-2022 - News - The Competition Commission of India (CCI) approves acquisition of shares of Future Generali India Life Insurance Company Limited (FGLIC) by Generali Participations Netherlands N.V (GPN), pursuant to which GPN s s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hareholding in FGLIC will stand increased from 49% to upto approx. 71%. The Proposed Acquisition relates to an increase in shareholding of an existing shareholder, i.e., Generali Participations Netherlands N.V. (GPN/Acquirer) in Future Generali India Life Insurance Company Limited (FGLIC/Target). GPN proposes to increase its equity shares of FGLIC, in tranches, pursuant to which GPN s aggregate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shareholding in FGLIC will stand increased from 49% to upto approx. 71% in the following steps: by subscribing to equity shares of FGLIC, to be issued by FGLIC through a preferential allotment ( First Tranche ); by purchasing all of Industrial Investment Trusts Limited's (IITL) shareholding of FGLIC ( Second Tranche ). IITL will completely exit FGLIC and will cease to be shareholder ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of FGLIC.; and by subscribing to equity shares of FGLIC, to be issued by FGLIC through a preferential allotment ( Third Tranche ) GPN 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 Indian life insurance industry in India thro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ugh FGLIC. GPN in engaged in the provision of life insurance services in India through FGLIC. FGLIC is a life insurance company engaged in the provision of life insurance services/products in India. FGLIC provides simplified solutions for the financial security of customers, to deliver relevant and accessible insurance solutions Detailed order of the CCI will follow. - News - Press releas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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