Fairfax Financial to sell reinsurance unit as part of acquisiton


Prem Watsa's Fairfax Financial Holdings (FRFHF.PK +0.6%) agrees to sell American Safety Reinsurance to Catalina Holdings Bermuda for undisclosed terms.

Fairfax is getting the reinsurance unit as part of its purchase of American Safety Insurance. Catalina had also bid for the company, but has agreed to vote its shares for Fairfax as part of the reinsurance deal.

Comments (1)
  • Davidoff
    , contributor
    Comments (404) | Send Message
     
    Suspicious timing. Looks like Prem Watsa tries to raise money for the BBRY bid.
    19 Aug 2013, 03:43 PM Reply Like
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