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Fairfax buys part of Bangalore airport


Granitepost
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Fairfax India and its parent company are indirectly buying one-third ownership of the main commercial airport for the city of Bengaluru, also known as Bangalore for $321 million dollars.

 

http://www.vancouversun.com/business/fp/fairfax+investing+million+onethird+share+indian+airport/11812995/story.html?__lsa=07cb-ef58

 

http://www.theglobeandmail.com/report-on-business/international-business/asian-pacific-business/fairfax-to-buy-bangalore-airport-stake-for-322-million/article29401580/

 

Cheers, Granitepost

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This doesn't really belong in this thread but it is interesting...

 

"We are seeing ‘for sale’ tags on airports, roads, ports, ..."  (see below)

 

 

The biggest ever fire sale of Indian corporate assets has begun, to tide over bad loans crisis

by PIYUSH PANDEY

 

The Reserve Bank of India’s (RBI) has decided to clean up the balance sheets of Indian banks, which are collectively saddled with Rs five lakh crore of bad loans, by the end of this fiscal. So, the banks have started cracking the whip on Indian companies for repayment of loans. For most affected firms and groups, this will mean they will be forced to sell prized assets to repay their ballooning debts.

 

We are seeing ‘for sale’ tags on airports, roads, ports, steel plants, cement units, refineries, malls, corporate parks, land banks, coal mines, oil blocks, express highways, airwaves, Formula One teams, hotels, private jets, and even status symbol corporate HQs. Substantial stakes in firms, and in some cases entire companies, are on the block.

 

The Hindu reviewed leading corporate houses with billion-dollar loans riding on them, and the results are startling. The top 10 business house debtors alone owe Rs 5,00,000 crore to the banks. They will be forced to sell assets worth over Rs 2,00,000 crore.

 

...

http://www.thehindu.com/business/Industry/the-biggestever-fire-sale-of-indian-corporate-assets-has-begun-to-tide-over-bad-loans-crisis/article8573163.ece

 

 

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