indirect Posted November 28, 2016 Share Posted November 28, 2016 http://www.livemint.com/Companies/lJU16MfCSb9VQG2EhphBMK/Prem-Watsas-Fairfax-gets-initial-approval-to-buy-Catholic-S.html Link to comment Share on other sites More sharing options...
nwoodman Posted November 28, 2016 Share Posted November 28, 2016 Thanks for posting. Certainly a couple of points cheaper than a few weeks ago. Politically a very high chance it will close. A very interesting litmus test for what the middle game in India could achieve cheers nwoodman Link to comment Share on other sites More sharing options...
nwoodman Posted December 7, 2016 Share Posted December 7, 2016 "The deal, under which Fairfax will pick up a majority stake in the capital-starved lender for Rs 1,000 crore (USD 147m), is unique because it gives the Canadian company just 15% voting rights in the bank in line with the Reserve Bank of India (RBI) regulations. In other words, it opens up a new door for investors wanting a piece of the lucrative Indian banking sector within existing regulations. " http://economictimes.indiatimes.com/industry/banking/finance/banking/how-prem-watsas-deal-to-buy-stake-in-csb-offers-ray-of-hope-for-ailing-banks/articleshow/55843011.cms Any thoughts to how this works? My guess is two share classes, with the second having negligible voting rights but equal rights economically when it comes to distributions (eg Brk.A and Brk.B). Interesting that if it closes, Fairfax will be the first company allowed to invest in such a way cheers nwoodman Link to comment Share on other sites More sharing options...
berkshiremystery Posted December 30, 2016 Share Posted December 30, 2016 Fairfax Financial first to win approval to buy majority stake in Indian bank. Cheers! ----- http://www.theglobeandmail.com/report-on-business/fairfax-gains-approval-to-buy-51-stake-in-indian-lender/article33453235/ http://business.financialpost.com/news/fp-street/fairfax-financial-first-to-win-approval-to-buy-majority-stake-in-indian-bank http://www.financialexpress.com/industry/banking-finance/rbi-lets-watsas-fairfax-to-buy-51-in-catholic-syrian-bank/491664/ http://www.nasdaq.com/article/fairfax-financial-holdings-to-acquire-51-stake-in-catholic-syrian-bank-20161230-00059 Link to comment Share on other sites More sharing options...
chrispy Posted January 16, 2017 Share Posted January 16, 2017 Just came across this video. There is nothing ground breaking here, similar content to other Watsa interviews talking about India: Link to comment Share on other sites More sharing options...
berkshiremystery Posted January 16, 2017 Share Posted January 16, 2017 Billionaire Prem Watsa Feeds OMERS’ Thirst for Indian Exposure JANUARY 15, 2017 Post-transaction, OMERS owns 20,363,514 shares of Fairfax India Holdings, representing 17.34% of the share class of Fairfax India Holdings. http://www.swfinstitute.org/swf-article/billionaire-prem-watsa-feeds-omers-thirst-for-indian-exposure-35315241/ Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted January 17, 2017 Share Posted January 17, 2017 Billionaire Prem Watsa Feeds OMERS’ Thirst for Indian Exposure JANUARY 15, 2017 Post-transaction, OMERS owns 20,363,514 shares of Fairfax India Holdings, representing 17.34% of the share class of Fairfax India Holdings. http://www.swfinstitute.org/swf-article/billionaire-prem-watsa-feeds-omers-thirst-for-indian-exposure-35315241/ Anyone have a guess at who was selling? Just trying to understand the significance of the money moving around here since new shares can't be issued. Link to comment Share on other sites More sharing options...
gfp Posted January 17, 2017 Share Posted January 17, 2017 Private placement sounded like new shares to me - is it written somewhere that new shares can't be issued? Billionaire Prem Watsa Feeds OMERS’ Thirst for Indian Exposure JANUARY 15, 2017 Post-transaction, OMERS owns 20,363,514 shares of Fairfax India Holdings, representing 17.34% of the share class of Fairfax India Holdings. http://www.swfinstitute.org/swf-article/billionaire-prem-watsa-feeds-omers-thirst-for-indian-exposure-35315241/ Anyone have a guess at who was selling? Just trying to understand the significance of the money moving around here since new shares can't be issued. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted January 17, 2017 Share Posted January 17, 2017 Private placement sounded like new shares to me - is it written somewhere that new shares can't be issued? Billionaire Prem Watsa Feeds OMERS’ Thirst for Indian Exposure JANUARY 15, 2017 Post-transaction, OMERS owns 20,363,514 shares of Fairfax India Holdings, representing 17.34% of the share class of Fairfax India Holdings. http://www.swfinstitute.org/swf-article/billionaire-prem-watsa-feeds-omers-thirst-for-indian-exposure-35315241/ Anyone have a guess at who was selling? Just trying to understand the significance of the money moving around here since new shares can't be issued. It's a closed-ended fund. That's exactly what a closed ended fund means - that it issues shares once and not again, right? Or can closed-ended funds regularly issue new shares? Link to comment Share on other sites More sharing options...
benhacker Posted January 17, 2017 Share Posted January 17, 2017 It's a closed-ended fund. That's exactly what a closed ended fund means - that it issues shares once and not again, right? Or can closed-ended funds regularly issue new shares? They can just do a secondary to issue new shares... so it's like a company doing a secondary. interesting fact that ETFs are actually "closed ends" with just a very explicit and fast exchange / redeem feature... Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted January 17, 2017 Share Posted January 17, 2017 It's a closed-ended fund. That's exactly what a closed ended fund means - that it issues shares once and not again, right? Or can closed-ended funds regularly issue new shares? They can just do a secondary to issue new shares... so it's like a company doing a secondary. interesting fact that ETFs are actually "closed ends" with just a very explicit and fast exchange / redeem feature... Interesting. I wasn't aware that CEFs had the ability to issue new shares after the IPO. For some reason, thought that shares outstanding had to remain fixed unless if repurchased and canceled. Thanks for the info. Link to comment Share on other sites More sharing options...
valuesource Posted January 18, 2017 Share Posted January 18, 2017 I think the terminology in this dialogue is a bit confusing. I agree, they can issue new shares (which they did via the private placement) but the term "secondary offering" usually refers to a scenario where an existing holder offers a block of shares through a bank or financial intermediary. So in the secondary market/not from treasury. Secondary offerings can be "bought" or "marketed, similar to new issues. Link to comment Share on other sites More sharing options...
benhacker Posted January 18, 2017 Share Posted January 18, 2017 Valuesource. You are of course correct. Meant to say follow on offering... Link to comment Share on other sites More sharing options...
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