Hapag-Lloyd buys 40% of Baxi terminal operator
After an agreement with an affiliate of Bain Capital Private Equity, which held a 35% stake in the Indian port operator J M Baxi Ports & Logistics (JMBPL), Hapag-Lloyd completed its acquisition of a 40% shareholding in JMBPL. The transaction has now been approved by the relevant antitrust authority.
Hapag-Lloyd will now be able to strengthen its presence in India’s attractive growth market and expand its terminal infrastructure business.
The Hamburg-based shipping company has continuously increased its involvement in the terminal sector, inter alia through an agreement to acquire the terminal business of Chile-based SM SAAM.
Hapag-Lloyd also holds stakes in the Italy-based Spinelli Group, Container Terminal Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, Terminal TC3 in Tangier, and Terminal 2 in Damietta, Egypt, which is currently under construction. (lh)