Fairfax India to increase stake in Bengaluru Airport, Siemens to mark partial exit

Fairfax India Holdings Corporation is expected to buy an additional 6 per cent stake in Bangalore International Airport Limited (BIAL) from Siemens Project Ventures GmbH for about $67 million. The deal is expected to be completed by June 2018, post which Fairfax will become the majority owner and controller of BIAL with a 54 per cent stake. Siemens’ stake holding will drop to 20 per cent. The remaining share is equally owned by the Karnataka government through the Karnataka State Industrial and Infrastructure Development Corporation and the central government through the Airports Authority of India.