Fairfax buys stake in steelmaker Stelco for $250 mln: Reuters

Fairfax Financial Holdings, owned by Canadian billionaire Prem Watsa, has acquired an almost 14 percent stake in steelmaker Stelco Holdings for $250.1 million, Reuters reported. The insurer bought the stake in Stelco from Bedrock Industries, a unit of U.S. private equity firm Lindsay Goldberg LLC, which owned 60.1 percent in the company before the sale. Bedrock still holds about 47 percent stake in Stelco. Last year, Hamilton, Ontario-based Stelco went public on the Toronto Stock Exchange, raising $230 million.

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