Fairfax Financial to sell 12.2pc ICICI stake

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