Fairfax to sell 10% stake in Odyssey for $900mn
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Fairfax to sell 10% stake in Odyssey for $900mn

Luke Harrison
17 November 2021
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Fairfax has entered into an agreement with the Canada Pension Plan Investment Board (CPPIB) and the Ontario Municipal Employees Retirement System (Omers), where each of them will acquire a 4.995% stake in Odyssey Group for an aggregate cash consideration of $900mn.

The proceeds of the transaction will be used to fund a $1bn share repurchasing programme.

Investors reacted positively to the news, with Fairfax shares up 8% in early trading.

Fairfax

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