In a significant financial maneuver, Canadian billionaire Prem Watsa’s Fairfax Group divested a substantial 9.7 per cent stake in CSB Bank, equating to Rs 595 crore, through an open market transaction on Thursday. The transaction saw FIH Mauritius Investments, a key arm of the Toronto-based Fairfax Group, offloading over 1.68 crore shares in a block deal on the National Stock Exchange (NSE).As the official promoter of the Thrissur-based CSB Bank, FIH Mauritius Investments’ sale of 1,68,68,645 shares, priced at an average of Rs 352.75 each, not only amounted to a sizable monetary exchange but also adjusted their ownership stake from 49.72 per cent to 40 per cent.The shares were snapped…
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Fairfax Group Sells Major Stake in CSB Bank for Rs 595 Crore
