From the Wires
Fairfax Closes Cunningham Lindsey Transaction
By: Marketwired .
Dec. 10, 2012 07:33 PM
TORONTO, ONTARIO -- (Marketwire) -- 12/11/12 --
(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 the closing of the previously announced disposition of its interest in Cunningham Lindsey Group Limited for proceeds of approximately $270 million. Fairfax's interest in Cunningham Lindsey was carried in its financial statements at approximately $110 million. Fairfax has re-invested approximately $34 million of the closing proceeds into shares of Cunningham Lindsey in order to retain an equity interest in the company of approximately 9%.
Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.
SOA World Latest Stories
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week