Industry executives and analysts tracking the two firms said while Fairfax is a clear favourite to buy AAI’s stake, for GMR Infra — which has a consolidated debt of over INR 25,000 crore and is selling assets itself — it may be challenging to buy the stake if the price is high. First phase of the Terminal-2 expansion likely to be completed six months beyond schedule, cost escalation seen The Airports Authority of India (AAI) will contribute 13% equity in the proposed Bangalore International Airport [BIAL] and will be the main consultant for the multi-crore project. Indian-born Canadian businessman Prem Watsa whose Fairfax India Holdings Corporation has a 54 per cent stake in the Bangalore International Airport said in … Search the best prices for return flights with Air India from 300+ websites. Fairfax India has concluded its acquisition of an additional 6% stake in Bangalore International Airport from Siemens Project Ventures, in a transaction valued at Rs4.5bn ($67m). Nifty 13,634.60-182.95. Mumbai, March 28: Prem Watsa's Fairfax India Holdings Corporation and Fairfax Financial Holdings Ltd are acquiring 33 per cent in Bangalore International Airport Ltd (BIAL) from GVK Power & Infrastructure Ltd for Rs 2,149 crore. The GVK, infrastructure major announced on Monday about selling 33 percent of its stake in the Bangalore International Airport Ltd (BIAL) to Canadian investment firm Fairfax … Post-divestment, Bangalore Airport & Infrastructure Developers Ltd of GVK will hold 10 per cent, while Siemens Project Ventures GmbH of Germany 26 per cent and Fairfax 38 per cent, including 5 … Post-divestment, Bangalore Airport & Infrastructure Developers Ltd of GVK will hold 10 per cent, while Siemens Project Ventures GmbH of Germany 26 per cent and Fairfax … BIAL operates the Kempegowda International Airport in Bangalore. MUMBAI: Billionaire Prem Watsa's Fairfax Group, the new owner of the Bengaluru airport, has put in place a new management at the airport company as it gears up for its biggest phase of expansion, said a person close to the development. Fairfax India foresees delay in Bangalore Airport expansion due to Covid-19 Tuesday, May 05, 2020 Bangalore: The lockdown and the resulting suspension of construction activities are expected to delay the completion of the first phase of the Terminal-2 expansion of Bangalore International Airport … Fairfax India, the local unit of Fairfax Financial Holdings Ltd, said in March that it had completed the transaction for the 38% stake in BIAL for $385.5 million (Rs 2,520 crore). Fairfax India acquired a 38% interest in BIAL in March 2017 and increased its stake to 48%, acquiring an additional 10% from Bangalore Airport & Infrastructure Developers Private Limited, a wholly-owned subsidiary of GVK Power and Infrastructure Limited for US $200 million. Bangalore International Airport Ltd (), the biggest Fairfax investment in India, runs the country’s third-busiest airport by the number of passengers … NSE Gainer-Large Cap . Benchmarks . “The marketability of BIAL to large pension funds and strategic global airport operators, even as an unlisted company, is very high,” Fairfax … The GVK group will use the proceeds to trim its debt. Fairfax currently has a majority 38% stake in BIAL after buying 33% from GVK and 5% from Zurich Airport. Bangalore Airport Fairfax deal News and Updates from The Economictimes.com. Bangalore: Indian airport operator GVK Power & Infrastructure said it sold a stake in its Bengaluru aerodrome to Fairfax Financial Holdings, helping cut debt.The shares rose. Fairfax India Holdings Corporation (TSX: FIH.U) has closed previously announced acquisition of 38% of the outstanding shares of Bangalore International Airport Limited (BIAL) for an aggregate consideration of approximately INR 25.22 billion or approximately US $385 million. In January 2001, Bangalore International Airport Limited (BIAL), formed under the Companies Act, 1956, was incorporated to build, own and operate KIAB for a 60-year concession period. Other shareholders at present are Siemens with 26% and the Airports Authority of India (AAI) and Karnataka State Industrial and Infrastructure Corporation (KSIIDC) with 13% each. Bangalore Airport Fairfax deal News and Updates from The Economictimes.com. Before completion of the stake acquisition, Fairfax India owned a 48% shareholding in Bangalore International Airport. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Fairfax Group which runs Bangalore International Airport, GMR Group which runs Delhi and Hyderabad airports and Adani group which is Mumbai airport’s new owner all … Toronto-based Fairfax Group, controlled by Hyderabad-born Canadian billionaire Prem Watsa, agreed in March to buy a 33 per cent stake in BIAL from GVK Group for Rs 2,162 crore ($321 million), valuing the eight-year-old airport at about Rs 6,500 crore. GVK had last year sold a 33 percent stake in the Bengaluru airport to Fairfax Financial Holdings FFH.TO, a Toronto-based company which had set up Fairfax India in … This was finalized at a meeting between the officials of the Karnataka government and the Civil Aviation Ministry in Delhi. The Airports Authority of India (AAI) has decided to sell the 13 per cent stake it holds in Kempegowda International Airport Bengaluru (Bangalore International Airport, or BIAL) and GMR Hyderabad International Airport (GHIAL) to raise funds. Read more about Fairfax India foresees delay in Bangalore Airport expansion due to Covid-19 on Business-standard. According to the shareholding agreement, the largest shareholders have the first right of refusal on the stake. Fairfax India offers exposure to India through ownership of excellent assets like the Bangalore airport, a fast growing finance business and chemical companies. Prem Watsa-promoted Fairfax India Holdings Corporation has acquired 38 percent stake in Bangalore International Airport Ltd. (BIAL) for approximately Rs 2,522 crore. Fairfax India has indicated that it intends to complete an IPO of Anchorage that values the Bangalore airport at a target valuation of $2.9 billion. The user development fees (UDF) at Bangalore International Airport are set to rise significantly in the new five-year period beginning April, to offset the … Meanwhile, Fairfax controlled Bangalore International Airport (BIAL) to invest around $2.2 billion to create infrastructure to handle around 90 million passengers by 2034. Find cheap flights to Fairfax Airport from Bangalore from ₹ 546. Indian born Canadian billionaire Prem Watsa-owned Fairfax India is planning to list Anchorage Infrastructure, its flagship investment vehicle for airports and other infrastructure investments in India. Shriram Tran Fin 1,291.35 180.25. Search flight deals from various travel partners with one click at Cheapflights.com. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Fairfax India Holdings Corporation (“Fairfax India”) (TSX:FIH.U) announces that it has entered an agreement to acquire an additional 6% of the outstanding shares of Bangalore International Airport Limited (“BIAL”) from Siemens Project Ventures GmbH (“Siemens”), part of … Get real-time pricing on Bangalore to Fairfax Airport airfare in seconds on In.cheapflights.com today. Fairfax and Siemens hold 54 and 20 per cent stake in BIAL, while GMR Infra holds 63 per cent stake in GHIAL. Find airfare and ticket deals for cheap flights from Fairfax Airport (WAS) to Bangalore, India.