Saurashtra Freight Private Limited announced that it has entered into an agreement for a private placement of INR 2,000,000,000 with new investor Fairfax India Holdings Corporation (OTCPK:FFXD.F) on January 16, 2017. As part of the transaction Fairfax India Holdings Corporation (OTCPK:FFXD.F) will acquire 51% stake in the company. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2017.