Headquartered in Toronto, Canada, Fairfax Financial Holdings Ltd. will pay the equivalent of $321 million to acquire 33 per cent of the equity in Bangalore International Airport Ltd, from GVK Power and Infrastructure Ltd., an Indian conglomerate operating across several industry sectors. Fairfax India Holdings Corp., a publicly traded company, is focused on long-term investments in India, reports Canada Business. This is Fairfax’s biggest deal in the country.

“We chose Fairfax as a partner in BIAL as we have a long standing relationship with its chairman, Prem Watsa and we look forward to partnering with them in developing the International Airport in Bangalore, through its next stage of expansion as we develop a new world-class Terminal 2 and a new runway,” said GMK Reddy, GVK’s chairman and managing director.