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March 16, 2022

Generali gets CCI nod to up stake in general insurance JV with Future

India’s competition regulator has approved Generali’s acquisition of a stake in its joint venture with Future Enterprises.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

As per the deal signed in January this year, the Italian insurer’s wholly-owned subsidiary Generali Participations Netherlands will acquire a 25% stake in Future Generali India Insurance (FGII).

The deal, valued at €145m, will increase Generali’s stake in FGII from 49% to approximately 74%.

The Competition Commission of India’s clearance comes as a relief for Future Enterprises, which has been engaged in a legal battle with Amazon over the sale of its retail operations to India’s Reliance.

Last month, a city court blocked the deal after a group of bondholders challenged it citing Future Enterprises’ entities had defaulted.

However, last week, the Bombay High Court set aside the city court’s order and cleared the deal.

Future Enterprises plans to use the proceeds from the sale to support its retail operations that took a severe hit during Covid-19-induced lockdowns.

Meanwhile, speaking in a post result analyst call, Generali CEO Philippe Donnet said that he was “confident that it [FGII deal] is going to happen”.

Along with FGII, Generali had also brokered a deal to increase its stake in Future Generali India Life (FGIL) to capitalise on the growth opportunities offered by the Indian market.

The news comes alongside Generali’s results for 2021, during which the insurer reported net result of €2.85bn. The figure marks a 63.3% growth compared to net result of €1.74bn in 2020.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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