Hamblin Watsa Investment Counsel acquires 9.25% stake in Metlen

Published 08/08/2025, 14:28
Hamblin Watsa Investment Counsel acquires 9.25% stake in Metlen

LONDON - Hamblin Watsa Investment Counsel Ltd has acquired a 9.25% stake in Metlen Energy & Metals PLC, according to a regulatory filing published Friday.

The Toronto-based investment manager, a wholly owned subsidiary of Fairfax Financial Holdings (OTC:FRFHF) Limited, now holds 11,938,047 voting rights in the global industrial and energy company. The threshold was crossed on August 1, with the notification sent to Metlen on August 4.

The stake is held on behalf of multiple Fairfax Financial Holdings subsidiaries, including insurance and reinsurance companies across several jurisdictions including the United States, Bermuda, United Kingdom (TADAWUL:4280), Germany, Greece, and Canada.

Metlen Energy & Metals, headquartered in Greece with primary listing on the London Stock Exchange (LON:LSEG) and secondary listing on the Athens Stock Exchange, noted that the disclosure was delayed due to a "technical administrative issue" that has since been rectified.

According to the filing, Hamblin Watsa Investment Counsel has "control and discretion over the voting rights attaching to the shares" owned by the various Fairfax subsidiaries through investment management agreements.

The notification was made in accordance with the requirements of the Financial Conduct Authority under DTR 5 and in compliance with Greek Law 3556/2007 and the Athens Stock Exchange Rulebook.

The disclosure contained no information about Hamblin Watsa’s investment strategy or reasons for building the position in Metlen Energy & Metals.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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