Hapag-Lloyd Acquires Stake in J M Baxi Ports & Logistics Ltd

Hapag-Lloyd has today signed a share purchase agreement under which the company will acquire 35% of the shares of J M Baxi Ports & Logistics Limited (JMBPL) from a company of Bain Capital Private Equity. Furthermore, Hapag-Lloyd has agreed with JMBPL – and the Kotak family as its owner – to subscribe to a capital increase of the company, raising Hapag-Lloyd’s stake to 40%. The parties have agreed to keep the financial details of the transaction confidential.

J M Baxi Ports & Logistics Limited is a leading private terminal and inland transport service provider in India. The company operates container terminals, a multipurpose terminal, inland container depots, container freight stations, and other logistics activities, such as rail services across India. The company employs around 5,400 people and handles a container volume of approximately 1.6 million TEUs. J M Baxi Ports & Logistics Limited has recently received additional concessions for the operation of container terminals in Nhava Sheva and Tuticorin.

“Terminal and infrastructure investments are a key component of our strategic agenda, and India is one of our most significant growth markets. Acquiring a substantial stake in J M Baxi Ports & Logistics Limited will significantly strengthen our presence in India with a renowned local partner – and is another important step in building our terminal and infrastructure business,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.

With the implementation of Strategy 2023, Hapag-Lloyd has further intensified its commitment to the terminal sector, most recently through an agreement to acquire the terminal business of the Chilean SM SAAM. In addition, Hapag-Lloyd holds stakes in the Italian Spinelli Group, at JadeWeserPort in Wilhelmshaven, at the Altenwerder container terminal in Hamburg, at the TC3 terminal in Tangier, and in the new construction of Terminal 2 in Damietta, Egypt.

The completion of the transaction is subject to approval by the relevant antitrust authorities as well as other conditions under which a transaction of this nature occurs.

Photo: © Hapag-Lloyd