Acquisitions27 Jun 2025, 08:31 pm
Central Bank of India Acquires 24.91% Stake in Future Generali India Insurance Company
AI Summary
The Central Bank of India has executed Shareholders Agreement (SHA), Trademark License Agreement (TMLA), and Distribution Agreement (DA) with Generali Participations Netherlands N.V. and Future Generali India Insurance Company Limited (FGIICL). The Bank has acquired a 24.91% equity stake in FGIICL. The SHA outlines the roles and rights of the parties, TMLA grants the Bank a non-exclusive, revocable, non-transferable, non-assignable, licensable license in the Trademarks owned by the Bank, and DA establishes a corporate tie-up for General insurance policy business. The DA is entered for an initial period of 6 years, renewable for successive periods of 3 years.
Key Highlights
- Central Bank of India acquires 24.91% equity stake in Future Generali India Insurance Company Limited
- Three agreements executed: Shareholders Agreement, Trademark License Agreement, and Distribution Agreement
- Shareholders Agreement outlines roles and rights of the parties
- Trademark License Agreement grants the Bank a license in the Trademarks owned by the Bank
- Distribution Agreement establishes a corporate tie-up for General insurance policy business for an initial period of 6 years