August 7, 2023
Fairfax India Holdings Corporation (“Fairfax India” or the “Company”) (TSX: FIH.U) announces that its wholly-owned subsidiary, FIH Mauritius Investments Ltd. has completed its previously announced sale of 9.8% equity interest in IIFL Wealth Management Limited (“IIFL Wealth”) to Bain Capital for gross proceeds of approximately $172 million (approximately INR14.0 billion at current exchange rates). As a result of the closing of the transaction, Fairfax India’s share ownership in IIFL Wealth will be approximately 3.8%.
AZB & Partners advised FIH Mauritius Investments Limited (“Fairfax”) in the deal. The AZB & partners team comprised of Partners Darshika Kothari and Divya Mundra, and Senior Associate Raghav Shah.
Write to us at deals@lawwiser.com
July 25, 2024
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