Hapag-Lloyd today successfully completed its acquisition of 40% shareholding in J M Baxi Ports & Logistics Limited (JMBPL) previously approved by the relevant antitrust authority. In January 2023, Hapag-Lloyd had made an agreement to this effect with an affiliate of Bain Capital Private Equity, which held a 35% stake in JMBPL, and the Kotak family, which holds a majority of the shares of JMBPL.
In driving its Strategy 2023, Hapag-Lloyd has continuously expanded its involvement in the terminal sector, inter alia through an agreement to acquire the terminal business of Chile-based SM SAAM. In addition, Hapag-Lloyd 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. By acquiring a stake in JMBPL, Hapag-Lloyd is strengthening its presence in the attractive growth market of India while expanding its terminal and infrastructure business at the same time.
