Hapag-Lloyd today successfully completed the acquisition of 40% of the shares in JM Baxi Ports & Logistics Limited (JMBPL), previously approved by the responsible antitrust authority. Hapag-Lloyd had entered into a corresponding agreement in January 2023 with a subsidiary of Bain Capital Private Equity, which held a 35% stake in JMBPL, and the Kotak family, which holds a majority stake in JMBPL.
As part of Strategy 2023, Hapag-Lloyd has continuously expanded its involvement in the terminal sector, including through an agreement to take over the terminal business of Chilean SM VSV. In addition, Hapag-Lloyd holds interests in the Italian Spinelli Group, Container Terminal Wilhelmshaven, Container Terminal Altenwerder in Hamburg, Terminal TC3 in Tangier and Terminal 2 under construction in Damietta, Egypt. With its stake in JMBPL, Hapag-Lloyd is strengthening its presence in the attractive growth market of India while at the same time expanding its terminal and infrastructure business.
The contracting parties have agreed not to disclose the financial details of the deal.