Fairfax Financial Becomes Shareholder Most BlackBerry, Kick Thorsten Heins CEO of Position

Posted on Dec 21 2019 - 2:53pm by bbiphones

BlackBerry soap opera about the acquisition has now ended. Fairfax Financial who previously had bid USD 4.7 billion to make the BlackBerry a private company has officially become the largest shareholder in the BlackBerry.

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The decision came after the deadline deals made ​​Fairfax Financial has passed the deadline. And Fairfax did not manage to find a partner that is needed to make the BlackBerry as a private company.

Finally, a deal that happened was changed and Fairfax will lead investors with a total investment of 1 billion USD. In addition, Fairfax will also poured funds amounting to 250 million USD from most investment companies to repay debt.

Substitution in the BlackBerry body also affected the position of CEO. Thorsten Heins is the leader BlackBerry, must be willing to step down. And the man who replaced Heins in as CEO is John Chen who also doubled as executive chairman.


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