Fairfax India Holdings Corporation is pleased to announce that, through its wholly-owned subsidiaries (collectively, “Fairfax India”), it has entered into a share subscription agreement with Privi Organics Limited (“Privi Organics”) and a share purchase agreement with existing shareholders of Privi Organics to acquire a total 51% equity ownership of Privi Organics for a consideration of approximately INR 3.7 billion (approximately $55 million at current exchange rates).
Fairfax India Holdings Corporation (“Fairfax India”) announces that, through its wholly-owned subsidiary in Mauritius, it has closed its first tranche of investment into Sanmar Chemicals Group (“Sanmar”) by funding $250 million.
Fairfax India Holdings Corporation announces net earnings of $0.7 million in the first quarter of 2016 ($0.01 per basic share) compared to net earnings of $4.0 million in the first quarter of 2015 ($0.06 per basic share) as the company deploys the funds it raised into Indian investments. Book value per basic share of $9.52 at March 31, 2016 increased slightly from $9.50 at December 31, 2015.
Fairfax India Holdings Corporation is pleased to announce the results of the vote on Directors at its April 14, 2016 Annual Shareholders’ Meeting.
Fairfax India Holdings Corporation (“Fairfax India”) announces that, through its wholly-owned subsidiaries, it has agreed to invest $300 million into the Sanmar Chemicals Group (“Sanmar”), through a combination of equity and fixed income securities.
Fairfax India Holdings Corporation and Fairfax Financial Holdings Limited are pleased to announce that, through their wholly-owned subsidiaries in Mauritius, they will collectively acquire 33% of the equity of Bangalore International Airport Limited from Bangalore Airport & Infrastructure Developers Private Limited, a wholly-owned subsidiary of GVK Power and Infrastructure Limited (NSE:GVKPIL)(BSE:532708) for an aggregate investment of approximately INR 21.49 billion (approximately $321 million at current exchange rates).
Fairfax India Holdings Corporation announces fiscal year 2015 net earnings of $40.9 million ($0.42 per basic share), derived from interest income on its investment portfolio and unrealized gains on investments. Book value per share at December 31, 2015 was $9.50 as a result of unrealized foreign currency translation losses, partially offset by the 2015 net earnings.
Fairfax India Holdings Corporation is pleased to announce that, through its wholly-owned subsidiaries (collectively, “Fairfax India”), it has completed its previously announced acquisition of approximately 45% of the outstanding shares of ADI Finechem Limited (“ADI”) for an aggregate consideration of approximately INR 1.3 billion (approximately $19 million at current exchange rates).
Fairfax India Holdings Corporation (“Fairfax India”) announces that its wholly-owned subsidiary, FIH Mauritius Investments Ltd (“FIH”), has acquired 68,788,445 issued equity shares of IIFL Holdings Limited (“IIFL”), formerly India Infoline Limited, at a price of INR 195 per share (approximately US$2.93 per share at current exchange rates) for an aggregate consideration of INR 13.41 Billion (approximately US$202 million at current exchange rates) in accordance with the open offer previously announced on July 13, 2015.
Fairfax India Holdings Corporation is pleased to announce that, through its wholly-owned subsidiaries (collectively, “Fairfax India”), it has entered into an agreement with existing shareholders of ADI Finechem Limited (“ADI”) to acquire approximately 45% of the outstanding shares of ADI at a price per share of INR 212 per share (collectively, the “Shareholder Transaction”) for total consideration of approximately INR 1.3 billion (approximately $20 million at current exchange rates).