Investing

[Newbie] Investing in Prem Watsa's Fairfax?

  • Last Updated:
  • Oct 19th, 2018 8:41 pm
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Member
Feb 13, 2008
234 posts
66 upvotes
Edmonton, AB
I just loaded up on Fairfax India.
I suffer from Post-Traumatic Stress Disorder, Dissociative Identity Disorder, Major Depressive Disorder, Generalized Anxiety Disorder and more.
Deal Addict
Jul 3, 2006
1730 posts
334 upvotes
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.)

TORONTO, March 29, 2018 (GLOBE NEWSWIRE) -- Fairfax India Holdings Corporation (“Fairfax India”) (TSX:FIH.U) announces that it has entered an agreement to acquire an additional 6% of the outstanding shares of Bangalore International Airport Limited (“BIAL”) from Siemens Project Ventures GmbH (“Siemens”), part of Siemens’ Financial Services Division, for an aggregate investment of approximately $67 million (approximately INR 4.4 billion at current exchange rates). The transaction is subject to customary closing conditions and third party consents, including lender consents, and is expected to be completed by June 2018.

Fairfax India currently owns a 48% interest in BIAL and, upon completion of this transaction, will own a combined 54% interest in BIAL. Siemens will continue to hold 20% stake in BIAL.

BIAL, under a concession agreement with the Government of India until the year 2038 (with the right to extend the agreement for an additional 30 years), has the exclusive rights to carry out the development, design, financing, construction, commissioning, maintenance, operation and management of the Kempegowda International Airport Bengaluru (“KIAB”) through a public-private partnership. KIAB is the first greenfield airport in India built through a public-private partnership.

“Siemens are one of the original shareholders of BIAL and have contributed immensely to the development of Kempegowda International Airport into a world class airport that is a gateway to and from India,” said Prem Watsa, Chairman of Fairfax India and Chairman and CEO of Fairfax Financial Holdings Limited. “We look forward to continuing to work with Siemens and the other BIAL shareholders in the further expansion of the airport.”

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.

For further information, contact:
John Varnell, Vice President, Corporate Affairs
(416) 367-4755
Deal Addict
Jul 3, 2006
1730 posts
334 upvotes
Toys "R" Us ends Canadian stores auction with Fairfax as sole bidder
Deal Addict
Jul 3, 2006
1730 posts
334 upvotes
TORONTO, April 24, 2018 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (“Fairfax”) (TSX:FFH) (TSX:FFH.U) announces that its 67.6% - owned subsidiary, Thomas Cook (India) Limited (“TCIL”), has changed the accounting for its ownership interest in Quess Corp. Limited (“Quess”) from a subsidiary to an associate for its year ended March 31, 2018. As a result of this accounting change, TCIL will de-consolidate Quess and TCIL’s remaining ownership interest in Quess will be recorded at fair value and presented as an investment in an associate company. This will result in a non-cash accounting gain at TCIL of approximately Rs. 58 billion (Rs. 5800 Crore) for the year ended March 31, 2018.

Accordingly, Fairfax must also change the manner in which it accounts for its ownership interest in Quess through TCIL from a subsidiary to an investment in an associate company. This change in accounting will result in a non-cash accounting gain at Fairfax of approximately US$600 million in Fairfax’s first quarter ended March 31, 2018.

Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.
Deal Addict
Jul 3, 2006
1730 posts
334 upvotes
been a good month...Fairfax should hit $800 CAD in next couple months
Jr. Member
May 20, 2002
188 posts
25 upvotes
So aregains realized by dividends or by stock increase. I am debating buying this in either my non registered account or resp or tfsair rrsp. Kevin
Deal Addict
Jul 3, 2006
1730 posts
334 upvotes
CowDoc wrote:
Jun 2nd, 2018 9:55 pm
So aregains realized by dividends or by stock increase. I am debating buying this in either my non registered account or resp or tfsair rrsp. Kevin

Stock increases
Deal Addict
User avatar
Apr 23, 2009
1427 posts
418 upvotes
treva84 wrote:
Jun 3rd, 2018 1:55 pm
This I agree whole heartedly. No right answers in investing.
Deal Guru
Jun 26, 2011
11276 posts
1647 upvotes
Markham
treva84 wrote:
Jun 3rd, 2018 1:55 pm
Great video. Prem comes across as such a nice guy too.

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