Wed Jan 29 11:26:28 IST 2025: **Fairfax India Secures Shareholder Approval to Increase Stake in Bengaluru Airport**
**Bengaluru, January 29, 2025** – Fairfax India Holdings Corporation has received overwhelming shareholder approval to increase its stake in Bangalore International Airport Limited (BIAL), operator of Kempegowda International Airport (KIA) in Bengaluru. The approval allows Fairfax to proceed with the acquisition of an additional 10% equity interest from Siemens Project Ventures GmbH, boosting its ownership from 64% to 74%.
The special shareholder meeting held on January 28th saw 100% of multiple voting shares and approximately 99% of subordinate voting shares approving the one-time deviation from the company’s investment concentration restrictions needed for the acquisition.
The transaction, initially announced in December 2024, is expected to close in the first quarter of 2025, pending final third-party consents and customary closing conditions. Upon completion, Fairfax India will hold 74% of BIAL, with 30.4% held by a wholly-owned subsidiary and 43.6% by its subsidiary Anchorage Infrastructure Investments Holdings Limited. The existing 13% stakes held by the Airports Authority of India and Karnataka State Industrial and Infrastructure Development Corporation Limited remain unchanged. KIA is currently the third busiest airport in India.
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