Fairfax Announces Disposition of Its Interest in Cunningham Lindsey Group Limited
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 10/01/12 -- (Note: All dollar amounts in this press release are expressed in U.S. dollars.)
Fairfax Financial Holdings Limited ("Fairfax") (TSX: FFH)(TSX: FFH.U) announces that Cunningham Lindsey Group Limited has entered into a merger agreement pursuant to which Fairfax will effectively sell its interest in Cunningham Lindsey for proceeds of approximately $260 million, subject to closing adjustments. Fairfax's interest in Cunningham Lindsey is currently recorded in its financial statements at $108.3 million. Fairfax will invest up to approximately $35 million of the proceeds in shares of Cunningham Lindsey on closing to continue to be a minority shareholder. The transaction is subject to normal closing conditions including regulatory approvals and is expected to close in the fourth quarter.
Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.
Contacts:
Fairfax Financial Holdings Limited
John Varnell
Vice President, Corporate Development
(416) 367-4941
Media Contact
Fairfax Financial Holdings Limited
Paul Rivett
Vice President, Operations
(416) 367-4941
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Datum: 01.10.2012 - 01:00 Uhr
Sprache: Deutsch
News-ID 1155668
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TORONTO, ONTARIO
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Kategorie:
Insurance
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