Private Equity

PE Fund Investments

Fairfax India to acquire 10% more in BIAL from Siemens for $255-M

Press Release  

Fairfax India Holdings Corporation is to acquire an additional 10% equity interest in Bangalore International Airport Ltd (BIAL) from Siemens Project Ventures GmbH, a part of Siemens Financial Services, for USD 255 million.Post transaction, Fairfax India’s equity interest in BIAL will increase from 64% to 74%. Of this, 30.4% will be held by its wholly-owned subsidiary and 43.6% will continue to be held by its subsidiary, Anchorage Infrastructure Investments Holdings Ltd.The payment will be made in three installments. The first on the closing date in Q1 2025, and the second and third installments, on August 31, 2025 and July 31, 2026, respectively.BIAL, under a concession agreement with the Government of India until 2068, has the exclusive rights to carry out the development, design, financing, construction, commissioning, maintenance, operation and management of the Kempegowda International Airport Bengaluru through a public-private partnership.The equity interest in BIAL owned by Airports Authority of India and Karnataka State Industrial and Infrastructure Development Corporation Ltd remains unchanged at 13% each.

Between Mar 2016 and Dec 2023, BIAL had attracted about USD 1,077.50 M from Fairfax Holdings.