Fairfax Financial likely to exit IIFL Finance, sources say

Fairfax Financial Holdings intends to divest its nearly 11% stake in IIFL Finance to raise funds for acquiring a significant stake in IDBI Bank from the Indian government.

The sale is valued at approximately 30 billion rupees, or $320 million.

Fairfax is also attempting to improve its stake in IIFL Capital through an open offer.