UK’s Hico charms Bengal Tiger and CFS
The trust fund Hico, owned by the British Hartnoll family, has acquired all the assets of Bengal Tiger Line (BTL) from CMIA Capital Partners, formed in 2017. With initial roots in Hamburg (1986), registration was subsequently transferred to Cyprus before BTL moved to Singapore in January 2009.
In 2018, BTL was acquired by CMIA Capital Partners, a Singapore based investment fund. Its feeder liner services focus on Indian ports, but also extend to the Far East, the Arabian Gulf and the Red Sea.
The staff and the management structure of Bengal Tiger Line will not be changed after the takeover. In a media release, HICO said that “the acquisition is in line with HICO’s interests in the focus verticals of hospitality, technology and transportation.”
This move is another indication of a new strategy, as Hico also acquired a majority stake in Caribbean Feeder Services, Panama, in August 2022. The company, which was bought in October 2018 by the Spanish shipping group Pérez y Cía, operates inter-port feeder services in the Caribbean region.
Also in August this year, the Hico Investment Group became a shareholder in CFS and partner to the Perez y Cia Group. (sh)