- Fairfax India Holdings Corporation (FIH.U) has completed the second closing of its investment in Maxop Engineering Company Private Limited
- Under the second closing, Fairfax India invested INR 1.75 billion ($22.1 million) for an additional 16 per cent equity interest in Maxop
- Fairfax India had initially invested INR 2.22 billion ($29.5 million) for a 51 per cent equity interest in Maxop
- Maxop is a New-Delhi-based precision aluminum die-casting and machining solution provider
- Fairfax India is an investment-holding company whose objective is to achieve long-term capital appreciation, while preserving capital
- Fairfax India Holdings Corporation opened the day’s trading at C$9.90 per share
Fairfax India Holdings Corporation (FIH.U) has completed the second closing of its investment in Maxop Engineering Company Private Limited.
Under the second closing, Fairfax India invested INR 1.75 billion ($22.1 million), based on the achievement by Maxop of certain financial-based performance targets, for an additional 16 per cent equity interest in Maxop.
Fairfax India had initially invested INR 2.22 billion ($29.5 million) for a 51 per cent equity interest in Maxop.
Upon the completion of the second closing, Fairfax India has invested, in aggregate, INR 3.97 billion ($51.6 million) for, in aggregate, a 67 per cent equity interest in Maxop.
Maxop is a New-Delhi-based precision aluminum die-casting and machining solution provider for aluminum die casting components used by the automotive and industrial sectors, with customers in India, Asia, North America and Europe.
Fairfax India is an investment holding company whose objective is to achieve long-term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India.
Fairfax India Holdings Corporation opened the day’s trading at C$9.90 per share.