Fairfax Said in Talks With OMERS to Back $4.9 Billion Takeover

Prem Watsa’s Fairfax Financial Holdings Ltd. is in talks with the Ontario Municipal Employees Retirement System to see if the pension fund will help finance his $4.9 billion takeover of Allied World Assurance Co., according to a person familiar with the discussions. OMERS could take a minority stake in Zug, Switzerland-based Allied, and there have also been talks with other potential backers, said the person, who asked not to be identified discussing a confidential matter.

Fairfax Wins Central Bank’s Approval to Take Over Indian Lender

Value investor Prem Watsa’s Fairfax Financial Holdings Ltd. won regulatory approval to buy 51 percent of Catholic Syrian Bank Ltd., marking the first time India’s central bank is allowing a foreign investor to purchase a majority stake in a domestic lender. Catholic Syrian, based in Thrissur in south India’s Kerala state, received notification of the approval Thursday from the Reserve Bank of India, director T.S. Anantharaman said in a phone interview.

Fairfax Seeking $1 Billion in IPO for Africa Investments

Fairfax Financial Holdings Ltd., the Canadian insurer that made its largest acquisition this week, is selling shares in an initial public offering for a fund that will make investments in Africa. The company is seeking to raise as much as $1 billion from the sale, people familiar with the matter said.