Fairfax increases Lindsey Morden stake

Financial services holding company Fairfax Financial Holdings (TSE: FFH) has increased its stake in adjusting firm Lindsey Morden Group. Fairfax has acquired 789,230 subordinate voting shares in Lindsey Morden, with the result that the company now owns all of the 2.2 million outstanding multiple voting shares. Fairfax’s also holds 8.4 million of Lindsey Morden’s outstanding subordinate voting shares, equal to about 69% of the total in issue. Fairfax says the decision to lift its holding within Lindsey Morden was made for "investment purposes".