Fairfax India has concluded its acquisition of an additional 6% stake in Bangalore International Airport from Siemens Project Ventures, in a transaction valued at Rs4.5bn ($67m).
Before completion of the stake acquisition, Fairfax India owned a 48% shareholding in Bangalore International Airport.
As a result of the transaction, which was originally announced in March this year, Fairfax now owns a combined 54% interest in the airport. Siemens will continue to hold a 20% stake in the airport.Siemens Project Ventures operates as part of Siemens’ Financial Services Division.
When the transaction was announced, Fairfax India chairman Prem Watsa said: “Siemens is one of the original shareholders of BIAL and have contributed immensely to the development of Kempegowda International Airport into a world-class airport that is a gateway to and from India.
“We look forward to continuing to work with Siemens and the other BIAL shareholders in the further expansion of the airport.”
18/05/18 Airport Technology
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Before completion of the stake acquisition, Fairfax India owned a 48% shareholding in Bangalore International Airport.
As a result of the transaction, which was originally announced in March this year, Fairfax now owns a combined 54% interest in the airport. Siemens will continue to hold a 20% stake in the airport.Siemens Project Ventures operates as part of Siemens’ Financial Services Division.
When the transaction was announced, Fairfax India chairman Prem Watsa said: “Siemens is one of the original shareholders of BIAL and have contributed immensely to the development of Kempegowda International Airport into a world-class airport that is a gateway to and from India.
“We look forward to continuing to work with Siemens and the other BIAL shareholders in the further expansion of the airport.”
18/05/18 Airport Technology
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