DivestmentMay 29, 2026, 05:12 PM
Fairfax Completes $1.91B Sale of Poseidon Stake; Realizes $837M Gain
AI Summary
Fairfax Financial Holdings Limited announced the completion of the previously disclosed sale of a portion of its interest in Poseidon Corp. The company sold 67,618,981 common shares of Poseidon for approximately US$1.91 billion, realizing a pre-tax gain of US$837 million. Following this transaction, Fairfax retains a 22.2% equity stake in Poseidon, which will continue to be accounted for under the equity method.
Key Highlights
- Fairfax completed the sale of 67,618,981 common shares of Poseidon Corp.
- The shares were sold at US$28.30 per share.
- Aggregate proceeds from the sale totaled approximately US$1.91 billion.
- Fairfax realized a pre-tax gain of approximately US$837 million from the sale.
- The sold shares represent approximately 23.1% of Poseidon's outstanding common shares.
- Fairfax retains an equity ownership of approximately 22.2% in Poseidon Corp.
- The remaining investment in Poseidon will be accounted for using the equity method.
Price Impact
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