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BSE: 523574NSE: FELISIN: INE623B01027

8th-Mar-2013 18:01Source: BSE

Pantaloon Ret - Enters into Share Purchase Agreement (SPA)

Pantaloon Retail (India) Ltd has informed BSE that:

"Pantaloon Retail (India) Limited ("PRIL") has, inter alia, entered into Share Purchase Agreement (SPA) with Industrial Investment Trust Limited (hereinafter referred to as "IITL") to sell its part holding in Future General India Life insurance Company Limited (FGILICL) representing 22.5% of the equity share capital of FGILICL. IITL is an investment Company duly registered as a non-banking financial Company (non deposit taking) with the Reserve Bank of India and is listed on the BSE Limited and the National Stock Exchange of India Limited. The transaction is subject to the receipt of the necessary approvals from governmental and regulatory authorities, including the CCI, the IRDA and the RBI.

Post completion of the transaction, Future Group consisting of PRIL and Sprint Advisory Services Private Limited shall continue to hold 52% shares in FGILICL with the other shareholders being Participatie Maatschappij Graafschap Holland NV ("which is a subsidiary of Assicuranzioni Generali S.P.A") and IITL."