<article><p>Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa&#8217;s Fairfax Holdings, is increasing its stake in Indian petrochemical company Sanmar Chemicals Group to 43 per cent from the current 30 per cent, it said in a statement on Monday.</p></article>

Fairfax India said that it has entered into an agreement with Sanmar pursuant to which Sanmar will settle the $300 million of bonds for consideration equal at the date of cancellation to the bonds’ principal amount plus an effective annual interest rate of 13 per cent.

Billionaire Prem Watsa-led Fairfax to raise Sanmar Chemicals stake to 43%

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Billionaire Prem Watsa-led Fairfax to raise Sanmar Chemicals stake to 43%

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