 "Fairfax to raise $150 million in public offering from Canada")
Prem Watsa-led Fairfax’s purchase of GVK Power & Infrastructure’s 33 per cent stake in Bengaluru International Airport (BIAL), the company that runs the city’s airport, has got stuck due to regulatory issues. Fairfax on Friday said it could not complete the Rs 2,149-crore transaction within its committed timeframe as the deal was stuck for want of necessary approvals.
The delay will also affect GVK’s debt reduction plan. The company was planning to reduce around Rs 2,000 crore of debt. The development comes at a time reports stated that Prime Minister Narendra Modi was expected to review the status of the Fairfax
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