Fairfax India to invest $300 million in Sanmar Chemicals Group – Feedback

Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa’s Fairfax Holdings, said it would invest $300 million in privately held Indian petrochemical company Sanmar Chemicals Group through a combination of equity and fixed-income securities.  Fairfax India will have a 30 percent equity ownership in Sanmar following the investment, the company said on Friday.

 

Reuters had earlier reported that Fairfax India is close to acquiring a minority stake in Sanmar, citing sources familiar with the matter.  Fairfax India will fund an initial tranche of $250 million while a second tranche of $50 million will come from Fairfax Financial Holdings Ltd or another investor, the company said.

 

http://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/fairfax-india-to-invest-300-million-in-sanmar-chemicals-group/articleshow/51736139.cms

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