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.
Category: Switzerland
Glencore’s All Over Oil Just Now, From Crude to Extra Virgin
Glencore Plc’s got oil trading covered these days, from the crude that drives the global economy to the dressing for your side salad. The world’s biggest commodity trader, which shocked energy-market watchers this month with an $11 billion investment with partner Qatar in Russian oil producer Rosneft PJSC, has been working at the other end of the scale by quietly building a two-person desk trading olive oil in Madrid.
Oil Extends Gains as Industry Report Shows U.S. Stockpile Drop
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Fairfax Financial Holdings Ltd. agreed to buy insurer Allied World Assurance Co. for $4.9 billion in cash and stock in Chief Executive Officer Prem Watsa’s largest purchase.
How Global Oil Flows Might Look After OPEC’s Supply Shock
OPEC’s quest to end a global crude glut already snapped a two-year slump in oil prices. Now attention is turning to how the group’s surprise decision to cut output will transform international trade flows of the world’s most important commodity.