Fairfax India Holdings Corp, a platform established in 2014 to make private equity and other investments in India, has acquired about 45 percent of ADI Finechem Ltd. The total consideration was about US$19 million. Based in Ahmedabad, India, ADI Finechem is a speciality oleochemical manufacturing company. The controlling shareholder of Fairfax India Holdings is Fairfax Financial Holdings Ltd, a Toronto-based financial services holding company.
PRESS RELEASE
Fairfax India Acquires Approximately 45% of ADI Finechem Limited
TORONTO, ONTARIO–(Marketwired – Feb. 8, 2016) –
Fairfax India Holdings Corporation (TSX:FIH.U) is pleased to announce that, through its wholly-owned subsidiaries (collectively, “Fairfax India”), it has completed its previously announced acquisition of approximately 45% of the outstanding shares of ADI Finechem Limited (“ADI”) for an aggregate consideration of approximately INR 1.3 billion (approximately $19 million at current exchange rates).
About Fairfax India
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.
CONTACT INFORMATION
Fairfax India Holdings Corporation
John Varnell
Chief Financial Officer
(416) 367-4755
Photo courtesy of ADI Finechem Ltd
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