Kuwait Projects Co. said it sold a 39.2 percent stake in Gulf Insurance Co. to Fairfax Financial Holdings Ltd. for $208.6 million, according to an e-mailed statement today.
Kuwait projects will hold about 43 percent in the company and Fairfax will own about 41 percent after the completion of the deal, it said. The stake was sold at 900 fils a share, it said.
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