Fairfax to exit Bengaluru airport for $1.5 billion

Fairfax Financial Holdings Limited intends to sell its entire stake in Banga­lore International Airport Limited (BIAL) for at least $1.5 billion. Fairfax had invested approximately $1 billion in BIAL, making this its largest investment in India. If completed, the stake sale will be Fairfax’s largest exit deal in India. Reportedly, the planned stake sale may be done in tranches with a valuation of $2.5-$3 billion for the international airport.