Deals
India’s Future Group Taps UBS to Sell Insurance JV Stake
- Selling both life and general insurance ventures with Generali
- Future Group’s Biyani family said to breach debt covenants
This article is for subscribers only.
India’s Future Group has picked UBS Group AG to lead the sale of its stake in an insurance joint venture with Italy’s Assicurazioni Generali SpA, according to people familiar with the matter.
Future Group is working with the Swiss bank on the plans to dispose its share of the Future Generali life and general insurance businesses, said the people, asking not to be identified as the discussions are private. The Indian group, which controls companies including Amazon.com Inc.’s local retail partner, has held initial discussions with potential buyers, the people said.