FIH Mauritius Investments Limited (FIHM), a Fairfax group entity, has acquired 33% equity share capital of Bangalore International Airport Limited (BIAL), a GVK group company, and another 5% of the airport from Flughafen Zürich AG..DealFIHM acquires 38% in Bangalore AirportValueUSD 385 millionDeal typeM&ASectorCivil Aviation- AirportLaw FirmsFIHM- AZB & Partners ; BIAL-Cyril Amarchand Mangaldas; Flughafen Zürich AG – Khaitan & Co and White & CasePartners/ Heads AZB – Ashwin Ramanathan.FIHM, the acquirer was advised by AZB & Partners through a team led by Partner Ashwin Ramanathan along with Associates Shivanand Nayak and Abhishek Banerji..GVK had said the sale was one of its fund-raising steps to reduce debt. The conglomerate has total debt of over Rs 22,000 crore on its books, reported ET..Follow Bar and Bench channel on WhatsAppDownload the Bar and Bench Mobile app for instant access to the latest legal news.
