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Fairfax Financial acquires block of Tembec shares

Fairfax Financial Holdings has acquired, through its subsidiaries, almost 20 million common shares of Tembec Inc., representing approximately 19.9% of the issued and outstanding shares. The shares were purchased in a private transaction at a…

Fairfax Financial Holdings has acquired, through its subsidiaries, almost 20 million common shares of Tembec Inc., representing approximately 19.9% of the issued and outstanding shares. The shares were purchased in a private transaction at a price of $2.25 per share.

The company states that it holds the shares for investment purposes.

Fairfax is a Toronto-based holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance, and investment management.