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).
Fairfax India Holdings Corporation announces net earnings of $18.3 million in the third quarter of 2015 ($0.17 net earnings per basic share) primarily due to unrealized gains on marketable securities. Book value per basic share decreased slightly to $9.36 at September 30, 2015 due primarily to unrealized foreign currency translation losses.
Fairfax India Holdings Corporation (TSX:FIH.U) is pleased to announce that it has increased the number of directors from seven to eight and appointed Dr. Punita Kumar-Sinha as an independent director.
Fairfax India Holdings Corporation, through its wholly-owned subsidiary FIH Mauritius Investments Ltd (FIH), has completed its previously announced acquisition of approximately 74% of National Collateral Management Services Limited (“National Collateral”) for an aggregate investment of approximately INR 8.0 billion (approximately $126 million at current exchange rates).
Fairfax India Holdings Corporation announces a net loss of $2.18 million in the second quarter of 2015 ($0.02 net loss per basic share) primarily due to unrealized losses on its bond portfolio. Book value per basic share decreased to $9.45 at June 30, 2015 due to unrealized bond and foreign currency translation losses.