Fair­fax Fi­nan­cial to sell 12.2pc ICICI stake

New Straits Times - - Business -

MUM­BAI: Fair­fax Fi­nan­cial Hold­ings plans to sell a 12.2 per cent stake in its In­dian joint ven­ture in­surer ICICI Lom­bard in a deal that will value the firm at 203 bil­lion ru­pees ($3.15 bil­lion), the com­pany said. Red Bloom In­vest­ment Ltd is buy­ing a nine per cent stake, while two other in­vestors, Ta­marind Capital Pte Ltd and IIFL Spe­cial Op­por­tu­ni­ties Fund, are buy­ing 1.59 per cent each from Fair­fax, said ICICI Lom­bard. Agen­cies

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