Fairfax India Holdings has announced the acquisition of an additional 7% equity interest in Bangalore International Airport (BIAL) from Siemens Project Ventures GmbH, part of Siemens Financial Services, for $175 million.

As previously announced, in the initial transaction, Fairfax India had acquired an additional 3% equity interest in BIAL from Siemens Financial Services through its wholly-owned subsidiary for a consideration of $75 million.

Bangalore International Airport, under a concession agreement with the government of India till 2068, has the exclusive rights to carry out the development, design, financing, construction, commissioning, maintenance, operation and management of the Kempegowda International Airport Bengaluru (KIAB) through a public-private partnership.