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Larsen & Toubro Ltd's L&T General Insurance Co. To Buy 50% of Insurance Venture In Pantaloon Retail India Ltd's JV With Assicurazioni Generali SpA-DJ


Monday, 25 Mar 2013 09:28am EDT 

Dow Jones reported that L&T General Insurance Co. has agreed to buy the 50% stake owned by Pantaloon Retail India Ltd in an insurance venture with Italy's Assicurazioni Generali SpA for about $100 million. L&T General Insurance Co. is the nonlife-insurance unit of Larsen & Toubro Ltd. Disclosure of the deal is expected later this week. The insurance venture, Future Generali India Insurance Co., is a nonlife-insurance company. Pantaloon Retail holds a 50% stake in the venture and the founders of Future Group hold another 24%. Generali holds 26%. 

Company Quote

1574.9
54.25 +3.57%
6:24am EDT