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L&T Finance Holdings, the financial services arm of L&T, is planning tobuyout Pantaloon Retail's stake in the latter's general insurance joint venture Future Generali India Insurance Company, according to reports.
Reports stated that a formal announcement is expected within the next 2-3 weeks.
Currently L&T General Insurance Company is a wholly-owned subsidiary of parent L&T, founded two years ago, says report.
India Infoline Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices