In Debasish Panda's last board meeting as chairperson of the Insurance Regulatory and Development Authority of India (Irdai), the regulator approved the "R2" licence for Kamlesh Goyal and Prem Watsa-backed Value Attics Reinsurance, making it the first private-sector Indian reinsurer after GIC Re, the public-sector reinsurer. "The authority reviewed and approved the R2 application of Value Attics Reinsurance, making it the first private-sector reinsurer after GIC Re, the public-sector reinsurer.
The collapse of Thomas Cook in the UK has no impact whatsoever in terms of ownership, business, people, technology or processes to us at Thomas Cook India: Madhavan Menon, chairman & managing director, TCIL.
Hyderabad-born Prem Watsa, the founder, chairman and chief executive of Toronto-based Fairfax Financial Holdings, is often called the Warren Buffett of Canada for his ability to spot investment opportunities ahead of others and turn around non-performing enterprises.
The investors also have an option to purchase additional $250 million worth of debentures in 30 days.
BlackBerry co-founders Mike Lazaridis and Douglas Fregin are considering a bid to buy the struggling smartphone maker, according to a securities filing on Thursday, raising the prospect of an alternative to a $4.7 billion offer led by its top shareholder.
V Prem Watsa, the India-born billionaire and promoter-chairman of Toronto-based Fairfax Financial Holdings, a $30-billion plus insurance and investment company, is often referred to as the "Canadian Buffett," a reference to the famous billionaire founder of Berkshire Hathaway, Warren Buffett.
UK-based travel services provider Thomas Cook Group plc will sell for Rs 817.4 crore (Rs 8.17 billion) its entire 77 per cent holding in the Indian arm to Fairbridge Capital (Mauritius) Ltd, a subsidiary of Fairfax Financial Holdings.
As Research in Motion goes through a major shake-up, Fairfax Financial founder Prem Watsa has taken a seat on its board, expanding it to 11 members.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
The company plans to raise $1 billion with a private placement of convertible debentures.
The IIT-Madras alumnus, who moved to Canada for an MBA programme and settled there, is not new to investing in India.
BlackBerry has signed a letter of intent agreement under which a consortium to be led by Fairfax Financial Holdings Limited has offered to acquire the company subject to due diligence, it said in a statement.
Fairfax Financial Holdings made three investments in a month
Over the last few days, as the fortunes of Thomas Cook Plc took a wrong turn, the Indian entity scrambled to distance itself from its erstwhile parent. Experts have said that the travel firm must not change its brand name.
He has been a long time Blackberry fan and user.
Trust today means more than the belief that a brands' products will work as advertised; consumers want to believe that the company truly cares for its customers.
Invests $1.1 billion in 6 months, against $3.7 billion in 20 years
This will trigger an open offer under SEBI norms and TCIL will seek to buy up to 26 per cent in Sterling for Rs 230 crore.
This was because his wife Anu was not able to join him in Seattle, due to the existing US law that said if a green card holder marries, his/her spouse's visa is rejected.
Struggling BlackBerry may have to shell out $157 million to Fairfax Financial if the smartphone maker backs out from the proposed $4.7 billion takeover offer.
India-located funds have already raised $3.9 billion so far this year.
Bidders eyeing parts of Canadian smartphone maker than the whole company, say sources
The government has made it much harder for tycoons to get special dispensations from Delhi
Months before Fairfax Financial Holdings Inc bid $4.7 billion for BlackBerry Ltd, Fairfax boss Prem Watsa played a role in securing a golden parachute worth as much as $55 million for the smartphone maker's chief executive.
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