Fairfax increases Torstar non-voting stake to 40.6%

Fairfax Financial Holdings Limited (TSX: FFH, FFH.U) disclosed today that it has acquired a total of 9,437,287 Class B non-voting shares of Torstar Corporation (TSX: TS.B), representing approximately 13.3% of the issued and outstanding Class B shares, at a price of $1.25 per Class B share.

The Class B Shares were acquired by way of a private share purchase agreement from fewer than 5 sellers in accordance with the exemption in Section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids.

Today’s purchase brings Fairfax’s total holdings in Torstar to 28,876,337 Class B Shares or approximately 40.6% of the total Class B Shares outstanding.

Torstar Class B shares are non-voting. Executors Of The Estate Of Joseph S. Atkinson, Ruth Hindmarsh Group, Honderich Group, Thall Investments Inc., and Campbell Group collectively control 94.9% of Torstar’s Class A voting shares.

photo credit: Torstar