Fairfax India boosts stake in BIAL, Bengaluru airport
AVIATION & AIRPORTS

Fairfax India boosts stake in BIAL, Bengaluru airport

The story states that Fairfax India Holdings Corporation has obtained an additional 3% stake in Bangalore International Airport (BIAL) from Siemens Project Ventures GmbH, a division of Siemens Financial Services. The acquisition was made for $75 million. With this transaction completed, Fairfax India's total ownership in BIAL has risen to 57%, consisting of a 13.4% stake held by its wholly-owned subsidiary and a 43.6% stake held by its indirect subsidiary, Anchorage Infrastructure Investments Holding.

Furthermore, Fairfax India, via its wholly-owned subsidiary, has entered into an agreement to purchase an extra 7% equity interest in BIAL from Siemens Financial Services for $175 million. The completion of this acquisition is subject to certain performance conditions being met by BIAL, along with other closing conditions, which are anticipated to be evaluated after October 31, 2023.

It should be noted that BIAL serves as the operator of Kempegowda International Airport, and it holds exclusive rights, as per an agreement with the government of India, to undertake the airport's development, design, financing, construction, commissioning, maintenance, operation, and management until 2068.

Also read:
Bagdogra Airport expansion set to begin soon
HP cabinet okays land acquisition for Gaggal airport


The story states that Fairfax India Holdings Corporation has obtained an additional 3% stake in Bangalore International Airport (BIAL) from Siemens Project Ventures GmbH, a division of Siemens Financial Services. The acquisition was made for $75 million. With this transaction completed, Fairfax India's total ownership in BIAL has risen to 57%, consisting of a 13.4% stake held by its wholly-owned subsidiary and a 43.6% stake held by its indirect subsidiary, Anchorage Infrastructure Investments Holding. Furthermore, Fairfax India, via its wholly-owned subsidiary, has entered into an agreement to purchase an extra 7% equity interest in BIAL from Siemens Financial Services for $175 million. The completion of this acquisition is subject to certain performance conditions being met by BIAL, along with other closing conditions, which are anticipated to be evaluated after October 31, 2023. It should be noted that BIAL serves as the operator of Kempegowda International Airport, and it holds exclusive rights, as per an agreement with the government of India, to undertake the airport's development, design, financing, construction, commissioning, maintenance, operation, and management until 2068. Also read: Bagdogra Airport expansion set to begin soonHP cabinet okays land acquisition for Gaggal airport

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code