+
Fairfax India to Acquire 10% More Stake in Bangalore Airport
AVIATION & AIRPORTS

Fairfax India to Acquire 10% More Stake in Bangalore Airport

Fairfax India Holdings Corporation announced its decision to acquire an additional 10% stake in Bangalore International Airport Ltd (BIAL) for $255 million. The transaction will increase Fairfax India's ownership in BIAL from 64% to 74%, further solidifying its presence in one of India's busiest airports.

The stake is being purchased from Germany's Siemens, which will fully exit its shareholding in BIAL following the deal. The other two stakeholders, Airports Authority of India and Karnataka State Industrial and Infrastructure Development Corporation, will retain their respective 13% stakes.

The acquisition, expected to close in the March quarter, values BIAL at $2.55 billion. Fairfax India’s founder, Prem Watsa, praised Siemens for their partnership since Fairfax's initial investment in 2017 and emphasised the company's confidence in BIAL’s growth potential under the leadership of CEO Hari Marar.

Fairfax India, established in 2014 by Indian-Canadian billionaire Prem Watsa, is a subsidiary of Fairfax Financial Holdings, a global property and casualty insurance company with $93 billion in assets. Fairfax India also holds controlling stakes in CSB Bank and has investments in IIFL Finance, Fairchem Organics, Sanmar, and Seven Islands Shipping.

Fairfax’s involvement with BIAL began in 2016 when it acquired a 33% stake from GVK Power and Infrastructure. Over time, Fairfax increased its stake by purchasing shares from GVK, Zurich Airport, and Siemens, all of which have since exited BIAL.

BIAL operates Bengaluru's Kempegowda International Airport under a public-private partnership, with a concession agreement extending until 2068. The agreement grants exclusive rights for the airport's development, operation, and management.

(ET)

Fairfax India Holdings Corporation announced its decision to acquire an additional 10% stake in Bangalore International Airport Ltd (BIAL) for $255 million. The transaction will increase Fairfax India's ownership in BIAL from 64% to 74%, further solidifying its presence in one of India's busiest airports. The stake is being purchased from Germany's Siemens, which will fully exit its shareholding in BIAL following the deal. The other two stakeholders, Airports Authority of India and Karnataka State Industrial and Infrastructure Development Corporation, will retain their respective 13% stakes. The acquisition, expected to close in the March quarter, values BIAL at $2.55 billion. Fairfax India’s founder, Prem Watsa, praised Siemens for their partnership since Fairfax's initial investment in 2017 and emphasised the company's confidence in BIAL’s growth potential under the leadership of CEO Hari Marar. Fairfax India, established in 2014 by Indian-Canadian billionaire Prem Watsa, is a subsidiary of Fairfax Financial Holdings, a global property and casualty insurance company with $93 billion in assets. Fairfax India also holds controlling stakes in CSB Bank and has investments in IIFL Finance, Fairchem Organics, Sanmar, and Seven Islands Shipping. Fairfax’s involvement with BIAL began in 2016 when it acquired a 33% stake from GVK Power and Infrastructure. Over time, Fairfax increased its stake by purchasing shares from GVK, Zurich Airport, and Siemens, all of which have since exited BIAL. BIAL operates Bengaluru's Kempegowda International Airport under a public-private partnership, with a concession agreement extending until 2068. The agreement grants exclusive rights for the airport's development, operation, and management. (ET)

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?