Jump to content

Fairfax sells 1/2 of ICG holdings


Recommended Posts

I don't remember seeing this posted




International Coal Group says nearly 35 million shares being sold by its two largest stockholders have been priced at $8.16.


ICG says in a Securities and Exchange Commission filing Tuesday that the deal is expected to close Friday.


Chairman Wilbur Ross’ investment firm, WL Ross Group L.P., plans to sell nearly 12.3 million shares, or half its holdings. Toronto-based Fairfax Financial Holdings plans to sell nearly 22.6 million shares, or half its stake.



Link to comment
Share on other sites

Actually it was briefly discussed on another thread. FFh & ross actually sold at $7.35 not $8.15....interesting to note that with the flooding in Australia and higher coal prices in the spot market ICO is now about $8.40. Interesting to see how this plays out as BTU keeps talking about a coal super-cycle and shortages.




Link to comment
Share on other sites

I wonder if those buyers like the decision they made?  Bought for $7.35 and just hit $9. on keeps moving up.  Glad to see FFH realize a profit but also good to see that they held on to half their position.  FFH's decision to double down about 2 years ago paid for entire FFH Head Office salaries for years, perhaps a decade?

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...