TORONTO, ONTARIO--(Marketwire - Dec 10, 2012) -
(Note: All dollar amounts in this press release are expressed in U.S. dollars.)
Fairfax Financial Holdings Limited ("Fairfax") (FFH.TO)(TSX:FFH.U) announces the closing of the previously announced disposition of its interest in Cunningham Lindsey Group Limited for proceeds of approximately $270 million. Fairfax''s interest in Cunningham Lindsey was carried in its financial statements at approximately $110 million. Fairfax has re-invested approximately $34 million of the closing proceeds into shares of Cunningham Lindsey in order to retain an equity interest in the company of approximately 9%.
Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.