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Fairfax sells Bank of Ireland stake at 0.36 euros per share - source

Reuters - UK Focus

DUBLIN, March 31 (Reuters/IFR) - Canada's Fairfax Financial Holdings sold a 2.9 percent stake in Bank of Ireland at 36 euro cents per share on Tuesday, a source familiar with the transaction said.

The Canadian property and casualty insurer run by contrarian investor Prem Watsa on Monday offered to sell 935 million shares, half of its 5.8 percent stake, via Deutsche Bank (LSE: 0H7D.L - news) , Thomson Reuters publication IFR reported.

Fairfax bought an 8.7 percent stake in 2011 as part of a consortium including U.S. billionaire Wilbur Ross when the shares were trading at 10 euro cents and cut that to 5.8 percent last March. (Reporting by Graham Fahy; writing by Conor Humphries; editing by Jason Neely)