German container shipping company Hapag-Lloyd has finalised the acquisition of a 40% stake in J M Baxi Ports & Logistics Limited (JMBPL).
In January 2023, Hapag-Lloyd reached an agreement for the takeover of the Indian shipping firm’s shares with an affiliate of Bain Capital Private Equity, which owned 35% of JMBPL, and the Kotak family, who own the majority of JMBPL shares.
The contractual parties agreed not to reveal any financial information about the acquisition deal.
Hapag-Lloyd aims to extend its presence in the terminal industry as part of its Strategy 2023. For this reason, the Hamburg-based ocean carrier has reached an agreement to buy the terminal operations of Chile-based SM SAAM. Furthermore, Hapag-Lloyd owns shares in the Spinelli Group, the Container Terminal Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, the Terminal TC3 in Tangier, and Terminal 2 in Damietta, Egypt, which is now under development.
Hapag-Lloyd completes share acquisition in J M Baxi Ports & Logistics Limited
