Fairfax India acquires additional 3% stake in Bengaluru airport operator BIAL
The Hindu
Fairfax India’s aggregate share ownership in BIAL has increased to 57% (13.4% held by its wholly-owned subsidiary and 43.6% held by its indirect subsidiary — Anchorage Infrastructure Investments Holdings Limited).
Fairfax India Holdings Corporation acquired an additional 3% equity in Bangalore International Airport Limited (BIAL) from Siemens Project Ventures GmbH, which is part of Siemens Financial Services, for $75 million (approximately ₹6.2 billion at current exchange rates).
As a result of the closing of the first transaction, Fairfax India’s aggregate share ownership in BIAL has increased to 57% (13.4% held by its wholly-owned subsidiary and 43.6% held by its indirect subsidiary — Anchorage Infrastructure Investments Holdings Limited).
Fairfax India, through its wholly-owned subsidiary, has agreed to acquire an additional 7% equity interest in BIAL from Siemens Financial Services for $175 million, subject to the satisfaction of certain performance conditions by BIAL and other closing conditions, which are expected to be tested subsequent to October 31, 2023.
BIAL is the operator of Kempegowda International Airport. Under an agreement with the government of India, BIAL has the exclusive rights to carry out the development, design, financing, construction, commissioning, maintenance, operation and management of the airport until 2068.
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