The Competition Commission of India (CCI) has announced the proposed acquisition of a certain stake in JM Baxi Ports and Logistics Ltd. approved by the German HLAG.
The takeover will be carried out by HL Terminal Holding BV, a wholly owned subsidiary of Hapag Lloyd Aktiengesellschaft.
JM Baxi Ports is a private terminal and inland transportation service provider in India.
In a press release on Monday, the Competition Commission of India (CCI) announced that it had granted approval for the acquisition of the stake in JM Baxi Ports HL Terminal Holding BV
The acquiring company was founded to act as a strategic investment company for HLAG’s port terminal business.
HLAG is the parent company of the group of buyers based in Germany. She works in the maritime sector.
Separately, CCI has completed the acquisition of the share capital of NSPIRA Management Services Pvt. ltd by three people – Puneet Kothapa, Ponguru Sindhura and Ponguru Sharani.
Currently, the acquirers together hold 79.48% of NSPIRA Management. The latter provides management services for educational institutions, mainly operated by Narayana Group.
In another press release, the regulator said it had approved the deal.
The proposed merger involves the acquisition of share capital from NHPEA Minerva Holding BV and Banyantree Growth Capital II, LLC.
Transactions that exceed a certain threshold require the approval of CCI.