Deal Corner
December 19, 2024
NDA Represents Siemens Project Ventures GMBH For Its Proposed Sale of 10% shareholding in Bangalore International Airport for USD 255 million

DEAL BRIEF

Siemens Project Ventures GmbH (“Siemens”) has entered into definitive agreements with Fairfax for selling it’s 10% shareholding in Bangalore International Airport Limited (“BIAL”) to Fairfax, for approximately USD 255 million. BIAL is the operator of the Kempegowda International Airport (i.e.- Bengaluru’s International airport), which is the third biggest airport in India.

The transaction is expected to close in the first quarter of the calendar year, 2025. Post closing of the transaction, Fairfax’s shareholding shall increase from 64% to 74% in BIAL.

OUR ROLE

We at Nishith Desai Associates, acted as legal and tax counsel for Siemens and advised Siemens on the legal, tax and regulatory aspects (including negotiation of the definitive agreements) with respect to the proposed transfer of shareholding in BIAL to Fairfax.

DEAL TEAM

Nishchal Joshipura

Harshita Srivastava

Anirudh Arjun

MEDIA COVERAGE

https://www.fairfaxindia.ca/press-releases/fairfax-india-to-acquire-an-additional-10-interest-in-bangalore-international-airport-limited-2024-12-03/

https://www.vccircle.com/fairfaxto-buy-10-more-in-bangalore-international-airport

https://www.thehindu.com/business/fairfax-india-to-acquire-additional-10-interest-in-bangalore-international-airport-limited-from-siemens-bengaluru/article68943704.ece

 

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

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Deal Corner

December 19, 2024

NDA Represents Siemens Project Ventures GMBH For Its Proposed Sale of 10% shareholding in Bangalore International Airport for USD 255 million

DEAL BRIEF

Siemens Project Ventures GmbH (“Siemens”) has entered into definitive agreements with Fairfax for selling it’s 10% shareholding in Bangalore International Airport Limited (“BIAL”) to Fairfax, for approximately USD 255 million. BIAL is the operator of the Kempegowda International Airport (i.e.- Bengaluru’s International airport), which is the third biggest airport in India.

The transaction is expected to close in the first quarter of the calendar year, 2025. Post closing of the transaction, Fairfax’s shareholding shall increase from 64% to 74% in BIAL.

OUR ROLE

We at Nishith Desai Associates, acted as legal and tax counsel for Siemens and advised Siemens on the legal, tax and regulatory aspects (including negotiation of the definitive agreements) with respect to the proposed transfer of shareholding in BIAL to Fairfax.

DEAL TEAM

Nishchal Joshipura

Harshita Srivastava

Anirudh Arjun

MEDIA COVERAGE

https://www.fairfaxindia.ca/press-releases/fairfax-india-to-acquire-an-additional-10-interest-in-bangalore-international-airport-limited-2024-12-03/

https://www.vccircle.com/fairfaxto-buy-10-more-in-bangalore-international-airport

https://www.thehindu.com/business/fairfax-india-to-acquire-additional-10-interest-in-bangalore-international-airport-limited-from-siemens-bengaluru/article68943704.ece

 

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

Research Papers

Taxing Offshore Indirect Transfers in India
February 28, 2025

Unlocking Corporate Philanthropy
February 27, 2025

Digital Health in India
February 26, 2025

NDA Connect

Connect with us at events, 
conferences and seminars.