Hero FinCorp likely to pick-up Future Enterprise’s 50% stake in Future Generali: Sources

Hero FinCorp has emerged as the likely frontrunner to buy Future Enterprise’s 50 percent stake in Future Generali, according to sources.

Hero FinCorp – the non-banking finance company and financial services arm of the Hero Group – may replace Future Enterprise in its insurance joint venture with Generali.

Future Generali stake is pegged at approximately Rs 4,000 crore, reports CNBC-TV18’s Nisha Poddar.

Future Group and Hero FinCorp did not offer any comment on the likely insurance deal.

There are currently said to be three players in line to buy stake in Future Generali General Insurance.

The debt of Kishore Biyani-led Future Enterprises is expected to halve post the stake sale in the insurance business. The total debt of the company stands nearly at Rs 4,200 crore.