Central Bank of India gets CCI's nod to acquire stakes in two Future Generali entities
CCI) on Tuesday cleared state-owned Central Bank of India's proposed stake acquisition of stakes in Future Generali India Insurance and Future Generali India Life Insurance. Central Bank of India is a scheduled commercial bank.
«The proposed combination envisages acquisition by Central Bank of India of 24.91 per cent equity stake in Future Generali India Insurance Company Ltd (FGIICL),» CCI said in a release.
FGIICL provides personal insurance, commercial insurance, social, and rural insurance, etc.
The CCI has also approved a 25.18 per cent equity stake in Future Generali India Life Insurance Company Ltd (FGILICL) through bid/resolution plan submitted by the Central Bank of India under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
FGILICL provides savings insurance, investment plans (ULIP), term insurance plans, health insurance plans, child plans, retirement plans, rural insurance plans and group insurance plans.
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