L&T May Acquire Pantaloon Retail's Stake In Future Generali
by Charmi Gutka
L&T Finance is planning to acquire Pantaloon Retail's stake in Future Generali India Insurance Company, 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.