IFLR1000

Fairfax Financial Holdings £1.2 billion acquisition of Brit

8/7/2015
Public acquisition
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£ 1.2 billion

$ 1.478 billion

Completed

8/7/2015

Overview:

  • Fairfax Financial Holdings has completed its acquisition of Brit for £1.2 billion.
  • Brit is a UK insurer and reinsurer.
  • Apollo and CVC Capital Partners were the previous majority shareholders.
  • 29.9% of the shares have been sold to the Ontario Municipal Employees Retirement System (OMERS).
  • The deal follows Brit’s LSE IPO in 2014.

Sam Duke - Editor

Jurisdictions:

Canada
United Kingdom

Deal type:

Public acquisition

Practice areas:

Private equity
M&A

Industry sector:

Insurance

Firms:
Dentons

Party: Bank of Montréal (Sponsor)

Paul Weiss Rifkind Wharton & Garrison

Party: Brit (Target)

Lawyer: Mark Bergman

Shearman & Sterling

Party: Fairfax Financial Holdings (Acquirer)

Lawyer: Thomas Donegan

Slaughter and May

Party: Brit (Target)

Lawyer: Jeff Twentyman

Sullivan & Cromwell

Party: Apollo Global Mangement (Seller)

Lawyers: Ben Perry, Jeremy Kutner, Tim Emmerson

Torys

Party: Fairfax Financial Holdings (Acquirer)

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