Fairfax completes acquisition of BIAL shares

Pays Rs 2,522 crore to buy 38% stake in India's third-largest airport operator

Fairfax India, owned by Indian-born Canadian billionaire Prem Watsa, has completed the acquisition of 38 per cent share in Bangalore International Airport (BIAL), the operator of India’s third largest airport. The deal comes a year later after the firm announced its intention.
 
The firm paid Rs 2,522 crore for the shares. It will give Fairfax India the operational control over the airport that handled over 19 million passengers last year. 
 
Watsa’s company acquired 33 per cent stake from the debt-ridden GVK group and the other five per cent from Flughafen Zürich. The Centre and the state each own