Fairfax Financial Holdings has received regulatory approval for the acquisition of a 46.32% stake in Gulf Insurance Group (GIG) [4].
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%.
Links:
[1] https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Fcategory%2Fpays%2Fkoweit%2Ffairfax-completes-acquisition-of-4632-of-gig&text=Fairfax+completes+acquisition+of+46.32%25+of+GIG
[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Fcategory%2Fpays%2Fkoweit%2Ffairfax-completes-acquisition-of-4632-of-gig&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-206-december-2023
[4] https://www.atlas-mag.net/en/category/pays/koweit/fairfax-to-raise-its-stake-in-the-capital-of-gig