<article>Canada-based <a style="color: #000080;" href="http://www.fairfaxindia.ca/" target="_blank">Fairfax India Holdings Corporation</a> has entered into an agreement with existing shareholders of <a style="color: #000080;" href="http://www.adifinechem.com/" target="_blank">ADI Finechem Ltd (ADI)</a> to acquire 45 per cent stake in the Indian company for a total consideration of nearly $20 million (Rs.130 crore).</article>

Canada-based <a style="color: #000080;" href="http://www.fairfaxindia.ca/" target="_blank">Fairfax India Holdings Corporation</a> has entered into an agreement with existing shareholders of <a style="color: #000080;" href="http://www.adifinechem.com/" target="_blank">ADI Finechem Ltd (ADI)</a> to acquire 45 per cent stake in the Indian company for a total consideration of nearly $20 million (Rs.130 crore).
The transaction is being routed by Fairfax India Holdings Corporation through its wholly-owned subsidiaries (collectively, &#8220;Fairfax India&#8221;). Fairfax India will acquire the outstanding shares of publicly-listed ADI at a price of Rs 212 per share, ADI said in a BSE filing.
The acquisition has also triggered an open offer from Fairfax India for an additional 26 per cent stake in ADI in accordance with applicable regulations of the Securities and Exchange Board of India (Sebi).
The shareholder transaction is subject to customary conditions precedent, including the completion of the open offer. Both the transactions are expected to concurrently close in the first quarter of 2016.
Gujarat-based ADI makes speciality chemical including oleo chemicals used in the paints, inks and adhesives industries, as well as intermediate nutraceutical and health products.
&#8220;We look forward to investing in ADI which, under the leadership of its Managing Director, Nahoosh Jariwala and his experienced management team, will continue to grow its operations over the long term. This investment fits within our strategy of investing in well-managed companies with a history of profitability and high integrity,&#8221; said Prem Watsa, Chairman of Fairfax India.
ADI will continue to operate independently under the guidance of Mr. Utkarsh Shah, the current Chairman and under the leadership of Mr. Nahoosh Jariwala, the current Managing Director.
Founded by V. Prem Watsa in 2014, Fairfax India Holdings Corporation is an investment holding company publicly traded on the Toronto Stock Exchange that invests in public and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India.
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Canada-based Fairfax India Holdings Corporation has entered into an agreement with existing shareholders of ADI Finechem Ltd (ADI) to acquire 45% stake in the Indian company.

Fairfax India to acquire 45% stake in specialty chemicals maker ADI Finechem

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Fairfax India to acquire 45% stake in specialty chemicals maker ADI Finechem

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