Fairfax monetising its bet on Bangalore airport with $134 million deal

Fairfax India Holdings Corporation is trimming its stake in Bangalore International Airport Limited (BIAL), as the investment vehicle monetises a bet it first made less than four years ago. Fairfax India will reduce its stake in BIAL from 54 per cent to 49 per cent as part of a broader transaction. The broader deal involves Fairfax selling an 11.5 per cent stake in Anchorage Infrastructure Investment Holdings Limited for Rs 9.5 billion ($134 million). The buyer of the shares has not been disclosed. Anchorage will be its flagship company to invest in India’s airport sector and for airport privatisation projects. Fairfax currently owns the stake in BIAL through wholly owned unit FIH Mauritius Investments Limited. After the latest transaction closes, it will hold part of its stake in BIAL through Anchorage. The transaction is likely to close in the first half of 2020.