Fairfax India Holdings Corporation
TSX : FIH.U

Fairfax India Holdings Corporation

July 13, 2017 09:25 ET

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.

Contact Information

  • Fairfax India Holdings Corporation
    John Varnell
    Vice President, Corporate Affairs
    (416) 367-4755