Zurich Air­port to Exit B’lore Int’l Air­port

The Economic Times - - Companies -

Zurich Air­port has reached an agree­ment to sell its 5% mi­nor­ity share­hold­ing in Ban­ga­lore In­ter­na­tional Air­port (BIAL) in In­dia to Fairfax Fi­nan­cial Hold­ings for $48.9 mil­lion be­fore taxes. “We have reached an agree­ment with a wholly-owned sub­sidiary of Fairfax Fi­nan­cial Hold­ings,” a Zurich Air­port spokesper­son said. The trans­ac­tion is sub­ject to cus­tom­ary clos­ing con­di­tions and is ex­pected to be com­pleted within the third quar­ter of 2016, as per a state­ment is­sued by the Swiss com­pany.

HY­DER­ABAD

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