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).
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).