Fairfax Africa is launched with $500 mln, acquires stake in AFGRI

Fairfax Africa Holdings Corp (TSX: FFH, FFH.U) has closed its initial public offering and concurrent private placement deals, raising US$500 million in total. The fund, an affiliate of Canada's Fairfax Financial Holdings Ltd, will invest public equity, private equity and debt in businesses located in Africa. Concurrent with the closing, Fairfax Africa acquired an indirect 42.2 percent interest in South Africa's AFGRI Proprietary Ltd, a private agricultural services and food processing company. The acquisition included an indirect interest formerly held by Fairfax Financial.

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