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New Deal


Announced

Completed

Canada Pension Plan Investment Board and Ontario Municipal Employees Retirement System completed the acquisition of a minority stake in Odyssey from Fairfax Financial Holdings for $900m.

Financials

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Transaction Value£679m
Consideration TypeCash
Capital Owned-
Capital Bid For10%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

reinsurance

Reinsurance

Acquisition

Minority

Private

Private Equity

Completed

Friendly

Single Bidder

Cross Border

Synopsis

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Canada Pension Plan Investment Board, a professional investment management organization, and Ontario Municipal Employees Retirement System, a Canadian public pension fund, completed the acquisition of a minority stake in Odyssey, an underwriter of property and casualty treaty and facultative reinsurance, as well as specialty insurance from Fairfax Financial Holdings, a financial holding company, for $900m. After closing, Fairfax will retain the flexibility to repurchase the interests of OMERS and CPPIB Credit Investments in Odyssey Group over time.

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