CVC Capital Partners completed the acquisition of RiverStone Europe from Fairfax and OMERS for c.$986m.

CVC Capital Partners, a private equity firm, completed the acquisition of RiverStone Europe, a run-off insurance services provider, from Fairfax and OMERS, the pension plan for Ontario's municipal employees, for c.$986m, consisting of c.$750m in cash upfront and $235.7m post-closing under a contingent value instrument. "RiverStone Europe is an industry leader in run-off insurance services, and CVC's scale and vision will give RiverStone Europe, under the continued leadership of Luke and his management team, the opportunity to further grow the business. Nick and Luke are also fully supportive of this transaction, based on their strong beliefs that it was the best way for RiverStone Europe to continue to grow and pursue run-off transactions. We wish Luke and all of the employees at Riverstone Europe much success in the future. Fairfax remains committed to continuing to grow its other European businesses, including its Lloyd's of London activities," Prem Watsa, Fairfax Chairman and CEO.