Prem Watsa will buy 49.2% stake in Quantum Advisors, which operates Quantum Mutual Fund. The deal involves HWIC Asia Fund, an affiliate of Watsa-owned Fairfax Holdings, buying Menlo Oak Venture Investments’ stake in Quantum.
In July, Shashi and Ravi Ruia agreed to sell 49% stake in Essar Oil to Roseneft for a price that valued the company at $7-8 billion (Rs42,000-48,000 crore), according to reports.
Britain's top share index retreated on Friday, weighed down by mining stocks that fell as the dollar surged following better-than-expected US jobs data.