Fairfax Completes Sale of RiverStone Europe

TORONTO, Aug. 23, 2021 (GLOBE NEWSWIRE) — Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces the successful completion of the previously announced sale of all of its interests in RiverStone Europe to CVC Capital Partners (“CVC”) for a purchase price of approximately US$700 million. Fairfax will also be entitled to receive up to US$235.7 million post-closing under a contingent value instrument. RiverStone Europe will now operate under the name RiverStone International.

Certain subsidiaries of RiverStone Europe beneficially own a portion of Fairfax’s indirect holdings in various Canadian reporting issuers. See attached Schedule “A” for Fairfax’s early warning disclosure relating to these holdings.

Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.