09:55 AM EST - Fairfax Financial Holdings Limited : announced that Cunningham Lindsey Group Limited has entered into a merger agreement pursuant to which Fairfax will effectively sell its interest in Cunningham Lindsey for proceeds of approximately $260 million, subject to closing adjustments. Fairfax's interest in Cunningham Lindsey is currently recorded in its financial statements at $108.3 million. Fairfax will invest up to approximately $35 million of the proceeds in shares of Cunningham Lindsey on closing to continue to be a minority shareholder. The transaction is subject to normal closing conditions including regulatory approvals and is expected to close in the fourth quarter. Fairfax Financial Holdings Limited
shares T.FFH are trading down $0.73 at $379.00.
