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Author: Don Obrien

Fairfax Financial Closes Sale of Brit Stake to Omers for About $375M


By Josh Beckerman

Fairfax Financial Holdings Ltd. sold a 14% stake in Brit Ltd. to Ontario Municipal Employees Retirement System Ltd. for about $375 million.

Under the transaction announced in February, Fairfax will be able to repurchase Omers’s interest in the insurance company over time.

In May, S&P Global said the sale of the Brit stake, along with the sale of Riverstone Barbados to CVC Capital Partners, would “help improve the company’s risk-adjusted capitalization and reduce leverage.”

Write to Josh Beckerman at josh.beckerman@wsj.com



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