Fairfax completes acquisition of 46.32% of GIG

Fairfax Financial Holdings has received regulatory approval for the acquisition of a 46.32% stake in Gulf Insurance Group (GIG).

This shareholding was acquired from the investment company Kuwait Projects Company (KIPCO).

The transaction is worth 256.5 million KWD (832 million USD).

Fairfax's stake in GIG thus goes from 43.69% to 90.01%.