Railways approves Rs 163 Crore Electric Traction Upgradation in South Central Railway (See 'Corp Brief') Govt promotes indigenous Potash Production and Alternative Nutrient Sources (See 'Corp Brief') IBC - Personal guarantee expressly drafted as a continuing and irrevocable guarantee does not stand discharged merely because the guarantor resigns as director of the corporate debtor: NCLAT (See 'Legal Desk') CCI approves amalgamation of Go Digit Infoworks with Go Digit General Insurance (See 'Corp Brief') CCI okays acquisition of units of Oaktree capital group by Brookfield Asset Management (See 'Corp Brief') IBC - If IRP is allowed to perform only limited functions during period when CIRP is under substantial judicial restriction, IRP is not automatically entitled to full professional fees at minimum monthly rate: NCLAT (See 'Legal Desk') Amritsar becomes second spoke airport under India's International Aviation Hub Strategy (See 'Corp Brief') RRBs post Highest-Ever Net Profit of Rs. 10,177 Crore in FY 2025-26 (See 'Corp Brief') PMLA - Retention or continued freezing of a person's property cannot be permitted solely or primarily on ground that investigation is ongoing: SAFEMA TRIBUNAL (See 'Legal Desk') NHAI Successfully defends Major Arbitration Case to Safeguard Public Funds (See 'Corp Brief') Companies Act - Coal beneficiation cannot per se be excluded from ambit of manufacturing process to justify quashing of criminal complaint at preliminary stage: HC (See 'Legal Desk') Digital India BHASHINI conducts Multilingual AI Workshop for Haryana Vidhan Sabha (See 'Corp Brief') MISC - RBI, possessing superior expertise in financial administration over cooperative authorities, has independent power to supersede board of a cooperative bank under the Banking Regulation Act - Principles of natural justice do not apply to Section 36AAA of Banking Regulation Act 1949: HC (See 'Legal Desk') Youth Unrest & CJP Agitation: Key Learnings (See CORP EINSICHT) IPR - Patent offices cannot rely on mere hypotheses or hindsight to dismiss technical advancement: HC (See 'Legal Desk') 'Corporate Mitra Scheme' Awareness Webinar Successfully Organized by IICA Shillong (See 'Corp Brief') Rajya Sabha organises Orientation Programme for newly elected Members (See 'Corp Brief') IBC - Service of insolvency petition on corporate debtor's registered email address available in MCA records constitutes valid service, if accompanied by attempts at service at registered office and publication in accordance with NCLT Rules: NCLAT (See 'Legal Desk') Coast Guard rescues 170 Persons in Flood Relief Operations across Daman, Dadra & Nagar Haveli (See 'Corp Brief') IBC - Prior or parallel proceedings under SARFAESI and before DRT do not bar Section 95 insolvency application: NCLT (See 'Legal Desk') Public Advisory: Beware of Fraudulent Air Suvidha 2.0 Websites (See 'Corp Brief') IBC - Liquidation application allowed where corporate debtor is not a going concern, has prima facie nil asset value & where requirements of Section 33 of IBC 2016 are met: NCLT (See 'Legal Desk')

Print

CCI nod for acquisition of shares of Future Generali by Generali N.V

Published: Jan 24, 2022

By TIOLCorplaws News Service

NEW DELHI, JAN 24, 2022: 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 shareholding 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 shareholding in FGLIC will stand increased from 49% to upto approx. 71% in the following steps:

i. by subscribing to equity shares of FGLIC, to be issued by FGLIC through a preferential allotment (First Tranche);

ii. 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 of FGLIC.; and

iii. 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 through 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.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.