Fairfax buys additional 12% stake in Allied World for $733.5mn
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Fairfax buys additional 12% stake in Allied World for $733.5mn

Fairfax and Allied Word logos toronto.jpg

Canadian conglomerate Fairfax Financial has acquired an additional 12% stake in its subsidiary Allied World for $733.5mn.

The transaction increased the Canadian group’s ownership in the Bermudian carrier to 82.9% from 70.9%.

Fairfax said the total consideration is inclusive of the fair value of a call option exercised and an accrued dividend paid, and recorded a loss...

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