Fairfax India to acquire additional 3% equity interest in BIAL 

Fairfax India Holdings Corporation has announced that through its wholly-owned subsidiary, it has entered into an agreement to acquire an additional 3 per cent equity interest in Bangalore International Airport Limited (BIAL)

Fairfax India Holdings Corporation has announced that through its wholly-owned subsidiary, it has entered into an agreement to acquire an additional 3 per cent equity interest in Bangalore International Airport Limited (BIAL) from Siemens Project Ventures GmbH, part of Siemens Financial Services (SFS), for consideration of $75 million.

The transaction is expected to close in Q2 2023, subject to the satisfaction of certain closing conditions, said Fairfax India.

In addition, Fairfax India has also agreed to acquire an additional 7% equity interest in BIAL from SFS for additional consideration of $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.

“This additional investment in BIAL reinforces our confidence in the continued success and opportunities at BIAL. With the opening of Kempegowda International Airport’s Terminal 2, we expect significant growth over the coming years. We have had great support from Siemens through SFS over the past few years and look forward to our continued partnership,” said Prem Watsa, Chairman of Fairfax India.