March 07, 2021
Fairfax Financial Holdings Ltd, the Toronto, Ontario-based financial holding company owned by Indian born businessman V Prem Watsa, has started preparatory work to list Anchorage Infrastructure Investments Holdings Ltd (Anchorage) on the Indian stock exchanges, potentially valuing the company at $1.3 billion.
Fairfax hasn’t indicated a timeline for the planned initial public offering (IPO) in Anchorage, which was set up in 2019 as a wholly-owned unit of Fairfax India Holdings Corporation to act as its flagship investment vehicle for airports and other infrastructure investments in India.
In 2019, Fairfax India signed definitive agreements with OMERS (the pension plan for municipal employees in the province of Ontario, Canada) to transfer 43.6 per cent out of the 54 per cent that it owns in Bangalore International Airport Limited (BIAL) to Anchorage and OMERS to invest about $130 million to acquire from Fairfax India an 11.5 per cent interest on a fully diluted
March 01, 2021
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The government has received at least five expressions of interest, including from the Great Eastern Shipping Co Ltd and US-based Safesea Group, for the privatisation of state-run carrier Shipping Corporation of India Ltd.
Vedanta Ltd and a consortium of Foresight Offshore Drilling Ltd S.A.- Belgium-listed Exmar NV and Dubai-based shipping company GMS DMCC have filed their EoIs.
Hyderabad-based Megha Engineering & Infrastructures Ltd is also understood to have submitted an EoI, official sources said.
The last date for filing expression of interest by potential bidders ended on Monday.
In December, the Department of Investment and Public Asset Management (DIPAM) called expression of interest to privatise Shipping Corporation by selling the government’s 63.75 percent stake to a strategic buyer.
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Great Eastern ‘joins the race’ to buy Shipping Corporation
The Great Eastern Shipping Company Ltd, India’s biggest ship owner by fleet size, is said to have filed an expression of interest (EoI) to buy state-run Shipping Corporation of India Ltd (SCI) from the government.
The Mumbai-based Great Eastern led by Bharat Sheth said it had “no comment” to offer on a query from BusinessLine on filing the EoI.
Other potential suitors
US-based Safesea Group, helmed by Indian origin shipping professional SV Anchan, is expected to file the EoI “any time” before the March 1 deadline set by the Department of Investment and Public Asset Management. Anchan, President, Safesea Group, confirmed the company’s interest in SCI.
Fairfax’s Prem Watsa cast eyes wider on India infrastructure
February 21, 2021
Prem Watsa. File photo - REUTERS×
Scanning railway station re-development and port opportunities
Fairfax Financial Holdings Ltd, the Toronto, Ontario-based financial holding company owned by Indian born businessman Prem Watsa, is prepping up for a bigger play in the Indian infrastructure sector beyond airports such as railway station re-development and port development and operation.
Multiple people familiar with the plan said that Fairfax through its newly created wholly owned Indian unit, Anchorage Infrastructure Investments Holdings Limited (Anchorage), has applied on nine railway station re-development tenders for New Delhi, Chhatrapati Shivaji Maharaj Terminus, Gwalior, Nagpur, Tirupathi, among others.