Hapag-Lloyd acquires stake in J M Baxi Ports & Logistics Limited

In accordance with a legally binding agreement, Hapag-Lloyd will purchase 35% of J M Baxi Ports & Logistics Limited (JMBPL) from a subsidiary of Bain Capital Private Equity. In addition, Hapag-Lloyd AG entered into a legally binding agreement with JMBPL and its promoters, the Kotak family, to participate in the company's capital expansion and boost Hapag-ownership Lloyd's stake to 40%. The contracting parties agreed to keep all relevant financial information between themselves. Leading private terminal and inland transport service provider in India is J M Baxi Ports & Logistics Limited. The operations include rail service options across India, as well as container ports, a multipurpose terminal, inland container depots, and container freight stations. The business has about 5,400 employees and manages about 1.6 million TEU in total container volume. Recently, additional concessions for running container ports in Nhava Sheva and Tuticorin were awarded to J M Baxi Ports & Logistics Limited. “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 Limited will significantly boost our presence in India with a trusted local partner and it is another important step to build up our terminal and infrastructure business,” said Rolf Habben Jansen, CEO of Hapag-Lloyd. Hapag-Lloyd has steadily increased its presence in the terminal industry as part of its Strategy 2023, most notably through a deal to buy the terminal operations of SM SAAM, a company established in Chile. Additionally, Hapag-Lloyd owns shares in the Italian Spinelli Group, the JadeWeserPort in Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, the Terminal TC3 in Tangier, and the currently under construction Terminal 2 in Damietta, Egypt. The required authorities' approval and additional conditions typical for a transaction of this kind must both be satisfied before the transactions may be closed. About Hapag-Lloyd- Hapag-Lloyd is one of the top liner shipping firms in the world, operating a fleet of 252 contemporary container ships with a combined transit capacity of 1.8 million TEU, according to J M Baxi Ports & Logistics Limited, Bain Capital Private Equity. The company employs about 14,500 people, and it has more than 400 offices spread throughout 137 nations. 3.0 million TEU of container capacity is available from Hapag-Lloyd, which also possesses one of the biggest and most advanced fleets of refrigerated containers. More than 600 ports are connected quickly and reliably across all continents thanks to 123 liner services worldwide. One of the top operators in the transatlantic, Middle Eastern, Latin American, and intra-American trades is Hapag-Lloyd.See also: JM Baxi ports to bid for port associated projects worth Rs 7,000 crore Container Freight rates to increase on more China lockdowns