Fairfax India Holdings Corporation has announced that it has filed and is in the process of delivering its management proxy circular and form of proxy or voting instruction form in respect of the Fairfax India shareholders’ special meeting.
The special meeting has been called to approve a one-time deviation from the company’s investment concentration restriction set forth in its bylaws in order to complete the previously announced acquisition of an additional 10% equity interest in Bangalore International Airport Limited (BIAL).
“The special meeting will be held in a virtual-only meeting format via live audio webcast online on January 28, 2025, at 9 a.m. Toronto time,” it said.
“The management proxy circular contains, among other things, details of the special item of business to be considered at the Special Meeting. Shareholders are urged to read the management proxy circular in its entirety and, if they require assistance, should consult their financial, legal, tax or other professional advisors,” it added.
Recently, Fairfax India announced that it has entered into an agreement to acquire an additional 10% equity interest in BIAL from Siemens Project Ventures GmbH.
“Following the closing of the transaction, Fairfax India’s equity interest in BIAL will increase from 64% to 74% (30.4% to be held by its wholly-owned subsidiary and 43.6% to continue to be held by its subsidiary, Anchorage Infrastructure Investments Holdings Limited). The equity interest in BIAL owned by the Indian state promoters, Airports Authority of India and Karnataka State Industrial and Infrastructure Development Corporation Limited remains unchanged at 13% each,” the company had said.
It added that the transaction is expected to close in Q1 2025, upon which the additional 10% equity interest in BIAL will be acquired by Fairfax India for, in aggregate, $255.0 million.
Published – December 22, 2024 09:08 pm IST