Zurich Airport Authority to sell 5 per cent stake in BIAL to Fairfax Holdings

The Zurich Airport Authority signed an agreement on April 18, 2016 for the sale of its 5 per cent equity stake in Bangalore International Airport Limited (BIAL) to Fairfax India Holdings for a sum of $48.9 million. The deal is subject to customary approvals and is expected to be completed by December 2016. The GVK Group recently divested its 33 per cent stake in BIAL to Fairfax Financial Holdings Limited and currently holds 10 per cent stake. Fairfax Holdings’ stake now stands at 38 per cent, while the other stakeholders are Siemens Project Ventures (26 per cent), the Airports Authority of India (AAI) (13 per cent) and Karnataka State Industrial Investment and Development Corporation Limited (13 per cent).

GET ACCESS TO OUR ARTICLES

Enter your email address