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Prem Watsa, the Indian-born founder of Canada\u2019s Fairfax Financial, arrived in Canada in 1972 with, by his own often-told account, just eight dollars to his name. Today, at 76, he is worth about US$2.8 billion, according to Forbes<\/a>. Through Fairfax, he has also quietly become one of the most important foreign investors in the Greek economy.<\/p>\n Watsa was born in Hyderabad, India, on 7 August 1950, according to The Canadian Encyclopedia<\/a>. He graduated in chemical engineering from IIT Madras in 1971.<\/p>\n The following year, he moved to London, Ontario, to live with his brother and study for an MBA at the University of Western Ontario. He paid his way by selling stationery, gifts and appliances door to door, the Financial Post<\/a> reported.<\/p>\n Read more: Stournaras: Greece welcomes greater foreign investment in banks<\/p>\n In 1985, he took control of a struggling insurer and turned it into Fairfax Financial Holdings, which he still chairs and runs as chief executive. His long-term, value-driven approach has long earned him the nickname \u201cCanada\u2019s Warren Buffett\u201d.<\/p>\n Fairfax first came to Greece in 2012, at the height of the debt crisis, when it bought into Eurobank Properties, the real estate company later renamed Grivalia.<\/p>\n Then, in April 2014, Fairfax led a group of investors that backed Eurobank\u2019s \u20ac2.864 billion recapitalisation, committing \u20ac400 million of its own, Carrier Management reported<\/a>. By May that year, it held 8.77% of the bank, at a time when many foreign investors were heading for the exit.<\/p>\n Two years later, in 2016, Fairfax and Canadian pension fund OMERS bought 80% of Eurobank\u2019s insurance arm, Eurolife. Grivalia, meanwhile, was later merged into Eurobank, adding to Fairfax\u2019s position in the bank.<\/p>\n The patience has paid off. In January 2025, Fairfax sold 80 million Eurobank shares, about 2.2% of the bank, at \u20ac2.33 each, Eurobank announced<\/a>. The sale raised about \u20ac186 million.<\/p>\n However, Fairfax described the placement as a \u201cmandatory technical adjustment\u201d to keep its holding just below 33%. It added that it would remain a \u201clong-term, committed reference shareholder\u201d of the bank.<\/p>\n Later in 2025, Fairfax sold DIY chain Praktiker Hellas to Romania\u2019s Pav\u0103l Holding, the owner of Dedeman, ot.gr reported<\/a>.<\/p>\n Then, in May 2026, Eurobank agreed to buy the 80% of Eurolife Life it did not already own from Fairfax-controlled entities, for about \u20ac813 million, the bank said<\/a>. Fairfax keeps its 80% of Eurolife\u2019s general insurance business.<\/p>\n Rather than taking his money out, Prem Watsa has kept investing in Greece.<\/p>\n In March 2023, Fairfax agreed to take a 15% stake in ANT1+, the streaming platform of Antenna Group, through a share capital increase, Naftemporiki reported<\/a>.<\/p>\n Fairfax has also built a holding in energy and metals group Metlen. In March 2025, it agreed a \u20ac110 million exchangeable bond with the company. \u201cWe are excited to further increase Fairfax\u2019s investment in METLEN,\u201d Watsa said at the time, according to Metlen<\/a>.<\/p>\n Most recently, on 14 October, Vivartia announced it would sell 100% of Evergood, its food services business, to Recipe Unlimited Corporation, Kathimerini reported<\/a>. Recipe, Canada\u2019s largest full-service restaurant company, has been wholly owned by Fairfax since October 2022.<\/p>\n Evergood runs more than 575 restaurants under the Goody\u2019s Burger House, Everest, Flocafe Espresso Room, La Pasteria and Jackaroo brands, Recipe said<\/a>. Its outlets range from high streets and shopping centres to airports, motorways and ferries.<\/p>\n In 2025, Evergood\u2019s sales rose 13.1% to \u20ac299.6 million. Neither side disclosed the price, but Capital.gr<\/a> put the deal at around \u20ac300 million. The sale still needs the usual regulatory approvals before it can be completed.<\/p>\n Eurobank is still the centrepiece of Fairfax\u2019s Greek portfolio. Fairfax holds 1,186,363,895 shares, or 32.67% of the bank, according to Eurobank\u2019s shareholder data<\/a>.<\/p>\n At Friday\u2019s closing price of \u20ac4.148, that stake is worth about \u20ac4.9 billion.<\/p>\n In Metlen, Fairfax holds about 8.35%, or 11,938,047 shares, according to its latest notification to the company<\/a>. At Friday\u2019s close of \u20ac46.94, that holding is worth about \u20ac560 million.<\/p>\n It is easy to see why the Buffett comparisons have stuck. Watsa modelled Fairfax on the success of his idol, according to Forbes. Moreover, in Greece, he bought when others were selling, held on through the crisis, and is now reinvesting the profits in the country\u2019s economy.<\/p>\n <\/p>\nFrom Hyderabad to Toronto<\/h2>\n
Betting on Greece when others fled<\/h2>\n
Cashing in, and reinvesting<\/h2>\n
A second wave: Metlen and ANT1+<\/h2>\n
Goody\u2019s, Everest and Flocafe<\/h2>\n
Eurobank remains the crown jewel<\/h2>\n
Prem Watsa, \u201cCanada\u2019s Warren Buffett\u201d<\/h2>\n