BRIEF-Fairfax India agrees to invest in Sanmar Chemicals Group

Fri Apr 8, 2016 7:16am EDT
 
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April 8 (Reuters) - Fairfax India Holdings Corp

* Fairfax India agrees to invest in sanmar chemicals group

* Agreed to invest $300 million into sanmar chemicals group ("sanmar"), through a combination of equity and fixed income securities

* Fairfax India will acquire a 30% equity ownership in sanmar and also generate a fixed return on its investment

* Fairfax India will fund an initial tranche of $250 million upon closing of transaction

* Fairfax India will fund an initial tranche of $250 million upon closing of transaction

* Says first tranche is expected to be completed in q2 of 2016 upon satisfaction of certain conditions precedent

* Second tranche of $50 million will be funded within 90 days thereafter by fairfax financial holdings limited or another investor

* Second tranche of $50 million will be funded within 90 days thereafter by fairfax financial holdings limited or another investor. Source text for Eikon: Further company coverage: