Fairfax Announces Acquisition of Shares of Quess
August 01 2019 - 8:29AM
Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U)
announces that it has acquired an additional 256,200 equity shares
of Quess Corp Limited (“Quess”). Upon completion of the acquisition
of these additional Quess shares and the previously announced
spinout of Quess shares by Thomas Cook (India) Limited, the parent
of Quess and a subsidiary of Fairfax, to its shareholders, Fairfax
will own 32.35% of Quess.
“We consider Ajit Isaac, the Founder and
Chairman and the owner of 22.65% of Quess, to be an outstanding
entrepreneur who is in the process of building a great company,”
said Prem Watsa, Chairman and Chief Executive Officer of Fairfax.
“We are excited to increase our ownership of Quess and we expect to
further increase our shareholding in the future as we believe that
Quess will be a great long-term investment.”
Fairfax is a holding company which, through its
subsidiaries, is engaged in property and casualty insurance and
reinsurance and the associated investment management.
For further information, contact: |
John Varnell, Vice President, Corporate Development and |
|
Chief
Financial Officer, at (416) 367-4941 |
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