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Skadden Leads JAB’s Deal for Fairfax Pet Insurance Stakes

June 23, 2022, 12:48 PM

Skadden Arps said it’s advising Luxembourg-based JAB Holding Company on its agreement to pay about $1.4 billion to buy stakes in the pet insurance operations of Canadian investment firm Fairfax Financial Holdings Limited.

JAB’s pet insurance business agreed to acquire all of Fairfax’s interests in the Crum & Forster Pet Insurance Group and Pethealth Inc., including all of their worldwide operations. As part of the deal, Fairfax will invest $200 million in JAB’s latest consumer fund JCP V, according to a statement.

The deal, expected to close in the second half, calls for Fairfax to get $1.15 billion cash and ...