Fairfax India Holdings Corp. has entered into an agreement to sell an interest in Anchorage Infrastructure Investments Holdings Limited of approximately 11.5 percent on a fully-diluted basis for gross proceeds of approximately INR 9.5 billion ($134 million). The interest in Anchorage will be sold by way of a private investment agreement.
Anchorage is a subsidiary of Fairfax India and will be its flagship company for investing in companies, businesses and opportunities in the airport sector in India. Anchorage is also Fairfax India’s platform for bidding on airport privatization projects in India.
Currently, Fairfax India, through its wholly-owned subsidiary, FIH Mauritius Investments Ltd, owns a 54 percent interest in Bangalore International Airport (BIAL). As part of the transaction, Fairfax India will restructure its interest in BIAL such that a portion of such interest will be held through Anchorage and, following closing of the transaction, Fairfax India’s effe