HAPAG-LLOYD has concluded its acquisition of a 40% share in J M Baxi Ports & Logistics (JMBPL).
JMBPL is a terminal and inland transport business based in India.
Hapag-Lloyd said the stake in JMBPL would expand the shipping company’s terminal and infrastructure business.
It agreed to the transaction in January 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.
JMBPL’s operations comprise container terminals, a multi-purpose terminal, inland container depots, container freight stations and rail services in India.
“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,” Hapag-Lloyd said in a statement.
It said the contracting parties have agreed to not disclose the financial details of the deal.
