Fairfax India to Increase Stake in Bangalore Airport to 74%

Fairfax India has announced plans to acquire an additional 10% equity interest in Bangalore International Airport Limited (BIAL) from Siemens Project Ventures GmbH for $255 million. This acquisition will raise Fairfax India’s stake in BIAL from 64% to 74%. The transaction is expected to be completed in the first quarter of 2025, subject to shareholder approval.

The payment will be made in three installments: the first upon closing, the second by August 31, 2025, and the final installment by July 31, 2026.

The remaining 26% of BIAL’s shares will continue to be held equally by the Airports Authority of India and the Karnataka State Industrial and Infrastructure Development Corporation, at 13% each.

BIAL operates Kempegowda International Airport Bengaluru under a concession agreement with the Indian government, which extends until 2068.

Fairfax India will hold a special shareholder meeting in January 2025 to finalize the transaction, according to a company statement.