Fairfax Financial to sell pet insurance operations to Germany's JAB in $1.4 bln deal

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Fairfax Financial Holdings will sell its global pet insurance operations to JAB Holding, the private investment company of Germany's Reimann family, in a $1.4 billion deal, the companies said on Monday. Fairfax, the Canadian investment company headed by well known contrarian investor Prem Watsa, will sell its interests in Crum & Forster Pet Insurance Group and Pethealth Inc including all of their worldwide operations to JAB's pet insurance unit for $1.15 billion in cash and $250 million in seller notes.
 
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