PE-backed Brit to be Acquired by Fairfax for $1.9B
February 18, 2015
Brit (LON: BRIT), a company backed by Apollo Global Management and CVC Capital Partners, has entered into an agreement to be acquired by Fairfax Financial Holdings (TSX: FFH) for nearly $1.9 billion. Brit shareholders will receive 305 pence in cash per share, representing a premium of 11.2% to the closing price of Brit on February 16. A global specialty insurer and reinsurer, Brit is focused on underwriting complex risks with a focus on property, casualty and energy businesses.