Canadian billionaire Prem Watsa’s Fairfax Group on Friday divested a 5.7 per cent stake in IIFL Finance for Rs 1,198 crore through an open market transaction. Fairfax Group through its affiliate FIH Mauritius Investments Ltd have sold the shares of IIFL Finance Ltd. According to the bulk deal data available with the BSE, FIH Mauritius Investments offloaded 2,16,02,000 crore shares,…