Fairfax India Holdings has announced the acquisition of an additional 7% equity interest in Bangalore International Airport (BIAL) from Siemens Project Ventures GmbH, part of Siemens Financial Services, for $175 million.
As previously announced, in the initial transaction, Fairfax India had acquired an additional 3% equity interest in BIAL from Siemens Financial Services through its wholly-owned subsidiary for a consideration of $75 million.
Following the completion of the second closing, Fairfax India’s aggregate share ownership in Bangalore International Airport has increased to 64% (20.4% held by its wholly-owned subsidiary and 43.6% held by its indirect subsidiary, Anchorage Infrastructure Investments Holdings) from 54% last year.
