Fairfax Africa Holdings Corporation announces proposed strategic transaction with Helios Holdings Limited
On July 10, 2020, Fairfax Africa Holdings Corporation (Fairfax Africa) announced that it had entered into a definitive agreement with Helios Holdings Limited and certain affiliates (Helios Holdings Group) pursuant to which Helios Holdings Group will contribute certain economic streams (from the management and performance fees arising from current and future Helios funds) to Fairfax Africa in exchange for a 45.9% equity and voting interest in the pro forma share capital of Fairfax Africa.
Upon closing of the transaction, Fairfax Africa will be renamed Helios Fairfax Partners Corporation (HFP) and continue to be listed on the Toronto Stock Exchange. A member of the Helios Holdings Group will be appointed sole investment advisor to HFP. A special committee of Fairfax Africa's board of directors unanimously approved the transaction.
Fairfax Africa, based in Toronto, is a TSX-listed investment holding company that focuses exclusively on investing in African businesses.
Helios Holdings Limited, based in London, UK, is the largest Africa-focused private investment firm.
McCarthy Tetrault is advising Fairfax Financial Holdings Limited and Fairfax Africa with a team led by Deandra Schubert that includes Jeremy Pleasant, Victoria de Luna and Haiya Peng (Corporate); Shevaun McGrath (Private Equity); Sean Sadler (Securities Regulatory); Stefanie Morand, Doug Cannon, Robert Nearing, and Kabir Jamal (Tax); Oliver Borgers (Competition/Foreign Investment); Kate McNeill-Keller (Labour & Employment); Carmen Francis (International Trade & Investment Law); and Ian Mak (Financial Services).