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.”
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