Fairfax India to acquire additional 3% equity interest in BIAL

Fairfax India Holdings Corporation, through its wholly-owned subsidiary, has entered into an agreement to acquire an additional 3 per cent equity interest in Bangalore International Airport Limited (BIAL) from Siemens Project Ventures GmbH, part of Siemens Financial Services (SFS), for consideration of $75 million.

In addition, Fairfax India has also agreed to acquire an additional 7 per cent equity interest in BIAL from SFS for additional consideration of $175 million, subject to the satisfaction of certain performance conditions by BIAL and other closing conditions, which are expected to be tested subsequent to October 31.