Money Makers Mentor

Fairfax to Sell RiverStone Europe

Fairfax is going to sell RiverStone Europe to CVC for $750 million. FairFax, a holding company involved with casualty and property insurance, has 60 percent interest in RiverStone Europe. On top of that, OMERS agrees to sell its interest in RiverStone Europe as part of the transaction. OMERS is Ontario’s pension plan for its municipal employees. FairFax sold 40 percent interest to OMERS for $599.5 million. Above all, the CVC transaction will close in early 2021.

Moreover, Fairfax is also going to receive $235.7 million after the deal closes through a contingent value instrument. Also, RiverStone Europe’s Managing Director is still going to be Luke Tanzer. Nick Bentley, the CEO of the RiverStone Group, will remain on the board after the closing.

READ MORE: Capitol Investment Co…

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