Press Release Details
Fairfax India Acquires Approximately 45% of ADI Finechem Limited
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
( Note : All dollar amounts in this news release are expressed in U.S. dollars, except as otherwise noted.)
Fairfax India Holdings Corporation (TSX:FIH.U) is pleased to announce that, through its wholly-owned subsidiaries (collectively, “Fairfax India”), it has completed its previously announced acquisition of approximately 45% of the outstanding shares of ADI Finechem Limited (“ADI”) for an aggregate consideration of approximately INR 1.3 billion (approximately $19 million at current exchange rates).
About Fairfax India
Fairfax India is an investment holding company whose objective is to achieve long-term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India.
Fairfax India Holdings Corporation
Chief Financial Officer