L&T calls off JV talks with Future Generali Insurance

India Infoline News Service | Mumbai |

“The parties have now decided mutually to call off the discussion around the proposed joint venture," L&T said

L&T General Insurance Co. Ltd on Monday called off a joint venture proposal with Future Generali Insurance.
L&T General Insurance is the non-life insurance arm of Larsen and Toubro.
“The parties have now decided mutually to call off the discussion around the proposed joint venture," L&T said on Monday in a filing to the Bombay Stock Exchange.
In March 2013, L&T had said its general insurance subsidiary was in talks with Future Generali Insurance for forming a joint venture that would combine and continue the business of general insurance in India.
L&T General Insurance and Future Generali Insurance had signed a non-binding agreement to jointly examine the terms of a potential transaction.
 

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