Fairfax India has completed the acquisition of an additional 10% equity interest in Bangalore International Airport Limited (BIAL) from Siemens Project Ventures, part of Siemens Financial Services, in a deal valued at $255m.
This transaction has increased Fairfax India’s aggregate share ownership in BIAL to 74% from the previous 64%, enhancing its position as a major stakeholder in the airport’s operations.
Fairfax India signed the agreement to acquire the 10% additional interest in BIAL in December 2024.
The acquisition is structured with payment to be made in three instalments.
The initial payment was made upon the closing of the transaction, with the remaining balance due on 31 August 2025 and 31 July 2026.
The acquisition has the ownership held by Fairfax India’s wholly-owned subsidiary to 30.4%, while its indirect subsidiary Anchorage Infrastructure Investments Holdings Limited holds 43.6%.
The stakes held by the Indian state promoters, Airports Authority of India and Karnataka State Industrial and Infrastructure Development Corporation, remain unchanged at 13% each.
BIAL, a private company located in Bengaluru, operates under a concession agreement with the Government of India until the year 2068.
It has exclusive rights for the development and management of Kempegowda International Airport Bengaluru (KIAB), India’s “first” greenfield airport built through a public-private partnership.
Fairfax India is an investment holding company with a focus on achieving long-term capital appreciation while preserving capital.
It invests in a mix of public and private equity securities and debt instruments, targeting companies and opportunities connected to the Indian economy.
In 2023, BIAL announced the opening of Terminal 2 (Phase I) at Kempegowda International Airport for domestic operations, reported The Hindu.
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