Hapag-Lloyd has successfully completed its acquisition of a 40% shareholding in J M Baxi Ports & Logistics Limited (JMBPL), previously approved by the relevant antitrust authority.
In January the carrier made an agreement to this effect with an affiliate of Bain Capital Private Equity, which held a 35% stake in JMBPL, and the Kotak family, which holds the majority of the shares.
In driving its Strategy 2023, the line has continuously expanded its involvement in the terminal sector.
It holds stakes in the Italy-based Spinelli Group, Container Terminal Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, Terminal TC3 in Tangier, and Terminal 2 in Damietta, Egypt, which is currently under construction.
By acquiring a stake in JMBPL, the carrier is strengthening its presence in the growth market of India while expanding its terminal and infrastructure business at the same time, according to a statement.
The contracting parties agreed not to disclose any financial details of the deal.
