Bandhan Financial eyes stake in Future Generali India Life – The Economic Times

Bandhan Financial Holdings Ltd. has been in preliminary talks with Future Group to purchase its 34% stake in Future Generali India Life Insurance Co. Ltd., The Economic Times of India reported Oct. 21, citing people familiar with the matter.

The holding company of Bandhan Bank Ltd. is willing to pay a control premium to buy Future Group's stake in the life insurer and another 17% stake in the unlisted company to acquire a controlling interest in Future Generali India Life, the sources said.

Future Generali India is a three-way joint venture between Future Group, Industrial Investment Trust Ltd. and Italian insurance and asset management company Assicurazioni Generali SpA.

Chandra Shekhar Ghosh, the founder of Bandhan, and Kishore Biyani, the founder of Future Group, declined to comment, the publication reported. Generali, which will have a say in any such transaction as per the agreement between the company's shareholders, also did not comment on the matter.