(Reuters) - Insurer Fairfax Financial Holdings Ltd said on Monday it would buy some Canadian assets of bankrupt UK-based construction and services company Carillion for an undisclosed amount.
The deal would include facilities management at airports, commercial and retail properties, defense and select healthcare units, Fairfax said.
Carillion collapsed on Jan. 15 after its banks halted funding, triggering Britain’s biggest corporate failure in a decade and forcing the government to step in to guarantee public services from school meals to roadworks.
Fairfax will also assume certain liabilities related to Carillion’s Canadian operations.
Canada is one of the largest markets for Carillion outside the UK.
Canadian unions had previously urged Ontario’s provincial government to end hospital services privatization after the collapse of Carillion.
Reporting by Anirban Paul in Bengaluru