Fairfax now even in Egyptian banking...

[Alekbaylee]

http://www.act.is/PressRelease/190

 

Actis, the pan-emerging market investor, today announced it has successfully realised its investment in Commercial International Bank (CIB), the leading bank in Egypt. Actis has sold its remaining 6.5% to add to the 2.6% sold to international investors in March 2014.

Actis invested in CIB in July 2009 in a transaction that made Actis the largest single shareholder. Since then, the bank has grown significantly despite a period of political instability since the Arab Spring of 2011. Actis has sold its remaining 6.5% to Fairfax Financial Holdings Ltd (“Fairfax”).

 

http://www.bloomberg.com/news/2014-07-16/greek-banks-able-to-tap-investors-after-stress-tests-hfsf-says.html

 

Money managers including Paulson & Co., Fairfax Financial Holdings Ltd. (FFH) and Fidelity pumped 8.3 billion euros ($11 billion) into Greece’s four biggest banks in the first half of this year. Institutional investors may again be called on to inject money if the European Central Bank’s own tests in October conclude more is needed, HFSF Chairman Christos Sclavounis said.

 

Ireland, Greece, Spain, Egypt, maybe Portugal and Italy... Truly impressing!

 

Everyone should have some FFH/FRFHF in his portfolio.

 

Go Fairfax Go!

[giofranchi]

Ireland, Greece, Spain, Egypt, maybe Portugal and Italy... Truly impressing!

 

Italy??? What is Fairfax going to do in Italy?

 

Dear Mr. Watsa,

if I can be of any help, please don’t hesitate to let me know!

 

Sincerely,

 

Gio

 

 

 

[Alekbaylee]

Well, was more an inference on my part after reading this:

 

Ross, whose fund specialises in so-called distressed assets, was among a group of North American investors who bought a 35 percent stake months after Ireland signed up to an EU/IMF bailout, effectively giving an early vote of confidence in the debt-ravaged country.

He told Reuters in April he was assessing distressed assets in Greece, Spain, Portugal and Italy and was looking to make investments in the next few months.

 

https://uk.finance.yahoo.com/news/wilbur-ross-sells-477-mln-080248394.html

 

Lately Fairfax has been investing along with Ross in a few "opportunities" so there's a good change that he does it again in the future.

 

Cheers!

[randomep]

Ireland, Greece, Spain, Egypt, maybe Portugal and Italy... Truly impressing!

 

Italy??? What is Fairfax going to do in Italy?

 

Dear Mr. Watsa,

if I can be of any help, please don’t hesitate to let me know!

 

Sincerely,

 

Gio

 

Did he respond yet? I think he can use you to translate italian annual reports...