Fairfax India to Acquire 10% More Stake in Bangalore Airport

06 Dec 2024 CW Team

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)

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..