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

DDA Approves Rs 87.2 Billion Budget for 2025-26

The Delhi Development Authority (DDA) has approved a budget of Rs 87.2 billion for the financial year 2025-26, with a strong emphasis on civic infrastructure development, green space rejuvenation, housing, and sports facilities, according to an official statement. Chaired by Lieutenant Governor V.K. Saxena, the budget meeting highlighted several large-scale projects, including the revitalisation of the Yamuna floodplain, creation of expansive parks, and upgraded civic amenities. Out of the total outlay, Rs 41.4 billion has been earmarked for capital expenditure, covering new roads, infrastruc..

Next Story
Infrastructure Energy

Vi Taps Cisco to Power Next-Gen Network

Telecom operator Vodafone Idea (Vi) has joined hands with US-based tech major Cisco Systems to revamp its transport network infrastructure across India. The strategic partnership aims to enhance network performance, scalability, and user experience for both retail and enterprise customers. As part of the agreement, Vi will deploy Cisco’s advanced Multiprotocol Label Switching (MPLS) technology to create a high-capacity, software-driven transport network. This will significantly improve the telecom player’s ability to manage surging data traffic and support data-heavy digital services such..

Next Story
Building Material

GPT Infra Commissions New Steel Girder Plant Near Kolkata

GPT Infraprojects announced the successful commissioning of its steel girder and components manufacturing facility in West Bengal on April 24, 2025. Located in Village Majinan, Hooghly district—about 60 km from Kolkata—the plant begins operations with an initial capacity of 10,000 metric tonnes per annum (MTPA). The company stated that the facility is in the process of securing RDSO (Research Designs and Standards Organisation) approval for manufacturing steel bridge girders. Once approved, this unit is expected to become a key asset for the company’s steel bridge segment, catering to c..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?