Fairfax to sell RiverStone Europe to CVC for $750 mln

2020-12-02T17:47:00+00:00

No comments

Fairfax Financial Holdings Ltd said on Wednesday it would sell its interests in run-off insurance services provider RiverStone Europe to private equity firm CVC Capital Partners for about $750 million.

The company could also receive an additional $235.7 million after the deal closes if certain milestones are met, it said in a statement.

OMERS, the pension plan for Ontario’s municipal employees, has also agreed to sell its interests in RiverStone Europe as part of the deal, which is expected to close in early 2021.

Fairfax said CVC would acquire RiverStone through its Strategic Opportunities Fund II

Topics

No comments

News
Resilience fears lead WTW client study

2024-11-22T10:54:00Z

Some 80% of risk leaders concerned about their organisations’ emerging-risk resilience in the next decade, according to a new WTW survey.
News
Optio completes Den Hartigh acquisition

2024-11-22T10:45:00Z

Dutch tech-enabled MGA provides P&C products, primarily land-based equipment, marine and high net worth, distributed via brokers through its proprietary distribution platform.
News
Zywave: How AI is changing the insurance industry’s reputation

2024-11-20T14:38:00Z

Artificial Intelligence has the potential to benefit both insurance professionals and consumers, says Doug Marquis, chief technology officer at Zywave.