Fairfax has yet to sell its stake in Bangalore International Airport Limited (BIAL), owned by Canadian billionaire Prem Watsa in response to media reports of a $1.5 billion deal.

Fairfax took control of India’s third-largest airport by acquiring a 38% stake in BIAL for Rs 2,522 crore in 2018. The company increased its stake to 54% in 2018 after purchasing additional shares from GVK Group and Siemens.
Fairfax’s investment in BIAL is primarily through Anchorage Infrastructure, an investment vehicle for airport and infrastructure projects.

“Fairfax India Holdings is a long-term investor in Bangalore International Airport and has no interest in selling its ownership interest,” Fairfax said late Thursday.

Watsa from India has announced plans to list Anchorage infrastructure. “Even as an unlisted company, BIAL is very marketable to large pension funds and strategic global airport operators. This is supported by several recent examples of equity sales in India and the privatisation of airport assets. The public listing of Anchorage will help uncover the true value of BIAL. We believe it could be well above $2.9 billion,” he said.