Author Topic: Contest: Which Fairfax Private Companies Are Going Public?  (Read 6093 times)

Xerxes

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Re: Contest: Which Fairfax Private Companies Are Going Public?
« Reply #20 on: November 15, 2020, 02:43:27 PM »
https://www.insurancebusinessmag.com/ca/news/breaking-news/fairfax-financial-and-allied-world-to-offload-stake-in-vault-238990.aspx

"Following the transaction, Vault co-founder and former Allied World Assurance Company Holdings chairman & CEO Scott Carmilani will continue to serve as chairman of Vault’s board. Vault’s leadership team will continue to operate under the guidance of co-founder and CEO Charles Williamson.

"The market demand for premium personal insurance is growing rapidly," said Carmilani.

Carmilani commented that there are more than 12 million US households in Vault’s target market, up from 6.8 million in 2009. He also said that nearly 80% of those households do not currently utilize the services of a high net worth insurance specialist – this presents Vault with a large market, the co-founder noted.

“With the investment by Cornell Capital and HSCM, we see significant growth potential for Vault in the underserved high net worth insurance market,” Carmilani prefaced.

"I'm extremely confident in Vault's future and the balance-sheet flexibility this transaction provides," said Williamson.

"Our team brings significant experience partnering with and growing leading insurance companies, and we look forward to working closely with Scott, Charles, and the Vault team to execute on our shared vision for continued growth,” stated Cornell Capital founder and senior partner Henry Cornell.

"We were a founding investor in Vault, and our additional investment is a testament to our confidence in the Company's business model," added HSCM founder and managing partner Michael Millette.
"


bluedevil

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Re: Contest: Which Fairfax Private Companies Are Going Public?
« Reply #21 on: November 17, 2020, 05:07:43 PM »
Pethealth.
Bought for 100m; sells for around 240m.




Daphne

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Re: Contest: Which Fairfax Private Companies Are Going Public?
« Reply #22 on: November 17, 2020, 07:24:11 PM »
Not going public but monetizing assets

Canada’s biggest patent holder, BlackBerry Ltd., is looking to unload most of its intellectual property in a deal that could mark another turning point for the fallen former smartphone giant.

StubbleJumper

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Re: Contest: Which Fairfax Private Companies Are Going Public?
« Reply #23 on: November 17, 2020, 08:04:17 PM »
Not going public but monetizing assets

Canada’s biggest patent holder, BlackBerry Ltd., is looking to unload most of its intellectual property in a deal that could mark another turning point for the fallen former smartphone giant.


Recuperating some capital from BB would be excellent news, indeed.  The capital has been tied up for what, 7 or 8 years now?

Interestingly, BB shares have been edging up since the vaccine announcement of last week.  The renegotiated debs are not yet in-the-money, but at least there is some prospect that they might head there during 2021.  Starting from today's price, a doubling of the BB share price would take some sting out of the equity investment and it would obtain a nice return on the debs.  A tripling of the share price would get the investment up to the status of mediocre.

It would be nice to have a favourable exit from this one during 2021...


SJ

petec

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Re: Contest: Which Fairfax Private Companies Are Going Public?
« Reply #24 on: November 17, 2020, 11:00:22 PM »
Pethealth.
Bought for 100m; sells for around 240m.

Is this a prediction or have you seen some news?
FFH MSFT BRK BAM ATCO LNG IHG TFG

Daphne

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Re: Contest: Which Fairfax Private Companies Are Going Public?
« Reply #25 on: November 18, 2020, 05:15:32 AM »
The Globe and Mail has confirmed a report last week by IP industry journal IAM that BB-T +2.06%increase
 recently began shopping the majority of its 38,000 patents to interested parties. Tech+IP Capital, LLC, a U.S. investment banking firm, is handling the sale for BlackBerry.

A source familiar with the situation told The Globe the company isn’t certain what price it will get, but it’s believed the portfolio could be worth more than US$450-million - a significant size for a deal in the global patent trade, but a fraction of the US$4.5-billion a consortium led by Apple Inc. Apple Inc. paid in 2011 for a trove of 6,000 Nortel Networks patents. The Globe is not identifying the source as they are not authorized to speak publicly on the matter.

Xerxes

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Re: Contest: Which Fairfax Private Companies Are Going Public?
« Reply #26 on: November 18, 2020, 06:15:54 AM »
If true this could mean that one of Blackberry revenue drivers will take a hit as they have been collecting royalties on some of them.

bluedevil

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Re: Contest: Which Fairfax Private Companies Are Going Public?
« Reply #27 on: November 18, 2020, 07:38:09 AM »
Pethealth.
Bought for 100m; sells for around 240m.

Is this a prediction or have you seen some news?

No news -- a total guess.
In response to the call for predictions, I was just thinking about the one company they sold -- Davos -- and how that was a business that benefited from the pandemic, unlike most of their businesses.  I was trying to think of another business that was helped by the pandemic, rather than hurt, and Pethealth is -- sadly! -- the only one I could think of.  I am assuming it is done ok given the surge of interest in pets recently.  Just hard for me to see them selling off many of the other businesses - such as retail - given how they must have been impacted by the virus.



Xerxes

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Re: Contest: Which Fairfax Private Companies Are Going Public?
« Reply #28 on: November 18, 2020, 08:59:52 AM »
Bluedevil

I think that is an excellent guess and reasoning.