35% stake of JM Baxi Ports is acquired by Hapag-Lloyd AG
PORTS & SHIPPING

35% stake of JM Baxi Ports is acquired by Hapag-Lloyd AG

A 35% stake in JM Baxi Ports & Logistics (JMBPL) was acquired by German shipping giant Hapag- Lloyd AG from the current shareholder Bain Capital Private Equity. In addition, Hapag-Lloyd AG and JMBPL have entered into a legally binding agreement subscribe to a capital increase and raise Hapag- Lloyd’s stake in the company to 40%.

Those in the know estimated the deal’s value at roughly $350 million. The Kotak family owns 60.8% of JMBPL, and Bain Capital, which invested INR 13.17 billion in 2021, holds the remaining 39.2%. With operations encompassing container terminals, inland container depots, container freight stations, and additional logistics services across India, JM Baxi Ports & Logistics is a significant private terminal and inland transport service provider.

With a fleet of 252 modern container ships and a combined transport capacity of 1.8 million TEU, Hapag-Lloyd is one of the top liner shipping firms in the world. The company has about 400 offices across 137 countries worldwide with around 14,500 employees. Hapag-Lloyd has a 3 million TEU container capacity including one of the biggest and most advanced fleets of reefer containers.

Rolf Habben Jansen, CEO of Hapag-Lloyd, stated that “Terminal and infrastructure investments are a crucial element of our strategic agenda and India is one of our key growth markets. Acquiring a significant share in J M Baxi Ports & Logistics will significantly boost our presence in India with a trusted local partner; it is another important step to build up our terminal and infrastructure business.”

According to the statement, the conclusion of the transactions is subject to clearance by the competent authorities and other criteria typical for a transaction of this nature.

A 35% stake in JM Baxi Ports & Logistics (JMBPL) was acquired by German shipping giant Hapag- Lloyd AG from the current shareholder Bain Capital Private Equity. In addition, Hapag-Lloyd AG and JMBPL have entered into a legally binding agreement subscribe to a capital increase and raise Hapag- Lloyd’s stake in the company to 40%. Those in the know estimated the deal’s value at roughly $350 million. The Kotak family owns 60.8% of JMBPL, and Bain Capital, which invested INR 13.17 billion in 2021, holds the remaining 39.2%. With operations encompassing container terminals, inland container depots, container freight stations, and additional logistics services across India, JM Baxi Ports & Logistics is a significant private terminal and inland transport service provider. With a fleet of 252 modern container ships and a combined transport capacity of 1.8 million TEU, Hapag-Lloyd is one of the top liner shipping firms in the world. The company has about 400 offices across 137 countries worldwide with around 14,500 employees. Hapag-Lloyd has a 3 million TEU container capacity including one of the biggest and most advanced fleets of reefer containers. Rolf Habben Jansen, CEO of Hapag-Lloyd, stated that “Terminal and infrastructure investments are a crucial element of our strategic agenda and India is one of our key growth markets. Acquiring a significant share in J M Baxi Ports & Logistics will significantly boost our presence in India with a trusted local partner; it is another important step to build up our terminal and infrastructure business.” According to the statement, the conclusion of the transactions is subject to clearance by the competent authorities and other criteria typical for a transaction of this nature.

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?