April 21, 2014 / 2:16 PM / 4 years ago

REFILE-India's L&T calls off merger talks with Future Generali Insurance

(Refiles to fix Reuters Identification Code for Generali)

MUMBAI, April 21 (Reuters) - India’s Larsen & Toubro Ltd said on Monday its unit had called off talks with Future Generali Insurance, a joint venture between local retail chain operator Future Group and Italy’s Generali, to merge their businesses.

The company did not give any reason for ending the merger talks.

Last March, L&T General Insurance, a unit of construction and engineering company Larsen & Toubro, and Future Generali had signed an agreement to merge the businesses.

After the deal, L&T was expected to hold a 51 percent stake in the joint venture, with Generali holding 26 percent and the rest with Future Group. (Reporting by Aradhana Aravindan; Editing by Sumeet Chatterjee)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below