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Fairfax pares stake in Bank of Ireland Add to ...

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Insurance and investment company Fairfax Financial Holdings Ltd. is selling down one third of its stake in the Bank of Ireland, a transaction that has become a model for its other investments in distressed countries.

Fairfax’s chief executive officer and founder Prem Watsa led a consortium of investors to take a 35-per-cent stake in the bank in 2011, then worth $1.5-billion. The move saved Bank of Ireland from nationalization. The government of Ireland took a minority stake, which it maintains today.

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