Fairfax India Increases Stake in Bangalore Airport to 74%
Deal News | Feb 20, 2025 | Globenewswire
Fairfax India Holdings Corporation, through its wholly-owned subsidiary, has completed the acquisition of an additional 10% equity interest in Bangalore International Airport Limited (BIAL) for $255 million from Siemens Project Ventures GmbH, part of Siemens Financial Services. This transaction increases Fairfax India's total ownership in BIAL to 74%, with 30.4% held directly and 43.6% via its indirect subsidiary, Anchorage Infrastructure Investments Holdings Limited. The purchase price is divided into three installments, with the first installment paid upon closing and the remainder due in 2025 and 2026. BIAL, located in Bengaluru, India, manages the Kempegowda International Airport Bengaluru through a public-private partnership agreement with the Indian government. Fairfax India's priority is long-term capital growth through investments in Indian public and private equities and businesses strongly tied to the Indian economy.
Sectors
- Investment and Holding Companies
- Airport Operations
Geography
- India – Bangalore International Airport Limited and Kempegowda International Airport Bengaluru are based in India, and the transaction involves an Indian infrastructure asset.
- Canada – Fairfax India Holdings Corporation is based in Toronto, Canada, representing the acquisition's connection to Canadian investment interests in Indian infrastructure.
Industry
- Investment and Holding Companies – Fairfax India Holdings Corporation is an investment holding company focused on long-term capital appreciation through investments in Indian equities and businesses.
- Airport Operations – Bangalore International Airport Limited is responsible for the operation and management of Kempegowda International Airport Bengaluru under a concession agreement with the Government of India.
Financials
- $255 million – The purchase price for the additional 10% equity interest in Bangalore International Airport Limited, payable in three installments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fairfax India Holdings Corporation | Bidding Company | Company | An investment holding company investing in public and private equity securities and debt instruments, primarily in India. |
| Bangalore International Airport Limited | Target Company | Company | A private company managing the Kempegowda International Airport Bengaluru through a public-private partnership. |
| Siemens Project Ventures GmbH | Selling Company | Company | Part of Siemens Financial Services, it was the previous holder of the 10% equity in Bangalore International Airport Limited. |
| Anchorage Infrastructure Investments Holdings Limited | Other Company | Company | An indirect subsidiary of Fairfax India, holding a significant share in Bangalore International Airport Limited. |