Fairfax Financial boosts interest in Torstar

Fairfax Financial Holdings Ltd. has paid scarcely $11.8 million to boost a holding of Torstar Corp.’s non-voting shares to 40.6 per cent.

The Toronto-based financial association now owns about 28.9 million category B shares of Torstar, owners of a Toronto Star, a Metroland organisation of newspapers and other digital and imitation media businesses.

Fairfax says it paid $1.25 any for a 9.4 million category B shares. The shares sealed Thursday during $1.30 on a Toronto Stock Exchange, though Fairfax didn’t contend when a shares were acquired by a private agreement.

Fairfax says it acquired a category B shares for investment functions but, in future, it might plead exchange with government or a company’s house of directors.

The association has gradually increasing a interest over a new years. Prior to a many new transaction, it owned 27.3 per cent of a media company’s non-voting shares.

Fairfax is a holding association that’s essentially invested in word businesses. However, it has also done vital investments in other Canadian companies including BlackBerry Ltd., International Forest Products, and Cara Operations.

Article source: http://www.cbc.ca/news/business/fairfax-torstar-1.4396929?cmp=rss