Generali Participations Netherlands N.V. made an offer to acquire 16.62% stake in Future Generali India Life Insurance Company Limited from Industrial Investment Trust Limited (BSE:501295) on December 3, 2021. Generali Participations Netherlands N.V. entered into a share purchase agreement to acquire 16.62% stake in Future Generali India Life Insurance Company Limited from Industrial Investment Trust Limited (BSE:501295) for INR 2.3 billion on December 18, 2021. The transaction is subject to the approvals, consents, permissions, etc. by Insurance Regulatory and Development Authority of India, Reserve Bank of India, the Registrar of companies &, competition Commission of India and all other authorities, as may be applicable, and subject to approval of the members of the Company in a general meeting or by way of Postal Ballot and subject to execution of the transaction documents. As of December 6, 2021, in-principle approval has been received to accept the offer made by Generali Participations Netherlands N.V. The deal is approved by board of Industrial Investment Trust Limited. The transaction is expected to be completed on or before June 30, 2022. As of January 21, 2022, the transaction has been approved by the competition commission of India. The Antares Legal team led by Siddharth Bhavnani and Ishita Bhardwaj acted as legal advisor to Industrial Investment Trust Limited (BSE:501295).

Generali Participations Netherlands N.V. completed the acquisition of 16.62% stake in Future Generali India Life Insurance Company Limited from Industrial Investment Trust Limited (BSE:501295) on March 28, 2022.