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Mergers & Acquisitions | 7 November 2012

L&T May Acquire Pantaloon Retail's Stake In Future Generali

by Charmi Gutka
 
@charmi

L&T Finance is planning to acquire Pantaloon Retail's stake in @Future_Generali_I, a general insurance JV of Kishore Biyani.

If the deal materialises, the acquisition will enable L&T to synchronise its insurance business under L&T's financial services offering which is still a part of the parent company and is not part of the group's financial services arm, as stated by ET.

L&T Insurance which started general insurance business two-and-a-half years ago, has a capital base of R415 Cr.

However, Pantaloon Retail has denied any such transaction with L&T at this stage, on BSE.

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