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AAI to offload residual stake in Bangalore and Hyderabad airports

The Airports Authority of India (AAI) has decided to sell the 13 per cent stake it holds in Kempegowda International Airport Bengaluru (Bangalore International Airport, or BIAL) and GMR Hyderabad International Airport (GHIAL) to raise funds. The authority will soon appoint a transaction advisor to conduct a valuation of AAI’s stake in the two airports in which Prem Watsa-owned Fairfax Group and Delhi-based GMR Infrastructure (GMR Infra) hold the largest stake. According to the shareholding agreement, the largest shareholders have the first right of refusal on the stake. Industry executives and analysts tracking the two firms said while Fairfax is a clear favourite to buy AAI’s stake, for GMR Infra which has a consolidated debt of over Rs 25,000 crore and is selling assets itself it may be challenging to buy the stake if the price is high.

Pension Fund Has Huge Losses Due to Bad COVID Investing

Pension plans 2020 financial results impacted by the coronavirus pandemic

Staff Canada’s largest pension plans are reporting mixed financial results from a year marked by the coronavirus pandemic. The Caisse de dépôt et placement du Québec reported a 7.7 per cent return on its depositors’ funds in 2020, representing $24.8 billion in investment results. As at Dec. 31, 2020, the Caisse’s net assets totalled $365.5 billion, up $117.5 billion over five years, with investment results of $110.7 billion and net deposits of $6.8 billion. Over ten years, investment results were $198 billion and net deposits were $15.7 billion. Read: Citing the “atypical year,” the Caisse said its total return is 1.5 per cent lower than its benchmark, primarily due to the underperformance by real estate, which posted a -15.6 per cent return, compared to a benchmark of -1.7 per cent. However, its infrastructure and fixed income investments exceeded benchmarks with one-year returns of 5.1 per cent and nine per cent, respectively. And while equities posted a one-year

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