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Private Equity

Fairfax May Sell 25 Percent Of India's ICICI Lombard In Up To $1B Deal

by posted 2years ago 575 views
<p>Fairfax Financial Holdings&nbsp;(FFH.TO) is in early talks to sell 25 percent of India&rsquo;s largest private general insurer&nbsp;ICICI Lombard&nbsp;in a deal that could fetch up to $1 billion, as the Canadian firm looks to cash out and start a new insurance joint venture, sources familiar with the matter said.</p> <p>ICICI Lombard is a joint venture formed in 2001 between ICICI Bank (ICBK.NS), India&rsquo;s second largest bank, and Fairfax, which is led by Canadian billionaire Prem Watsa.</p>