Fairfax India Acquires an Additional 10% Interest in Bangalore International Airport Limited
TORONTO, ONTARIO--(Marketwired - July 13, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
(Note: All dollar amounts in this news release are expressed in U.S. dollars, except as otherwise
noted).
Fairfax India Holdings Corporation (TSX:FIH.U) is pleased to announce that, through its wholly-owned subsidiary (collectively,
"Fairfax India"), it has completed its previously announced acquisition of an additional 10% of the outstanding shares of
Bangalore International Airport Limited from Bangalore Airport & Infrastructure Developers Private Limited, a wholly-owned
subsidiary of GVK Power and Infrastructure Limited, for an investment of approximately INR 12.9 billion (approximately $200
million at current exchange rates).
In March 2017, Fairfax India completed the acquisition of a 38% interest in BIAL and, as of completion of this transaction,
now owns a combined 48% interest in BIAL.
Fairfax India is an investment holding company whose objective is to achieve long-term capital appreciation, while preserving
capital, by investing in public and private equity securities and debt instruments in India and Indian businesses or other
businesses with customers, suppliers or business primarily conducted in, or dependent on, India.