Hapag-Lloyd takes stake in India’s J M Baxi Ports & Logistics
Germany’s Hapag-Lloyd continues to expand its terminal portfolio with an ownership stake in one of India’s leading private terminal and inland transport service providers, J M Baxi Ports & Logistics.
The Hamburg-based liner is buying 35% of the business from a Bain Capital Private Equity affiliate and has also struck a deal with J M Baxi Ports & Logistics’ and its promoters, the Kotak family, to subscribe to a capital increase and lift its shareholding to 40%. Financial terms have not been disclosed.
J M Baxi Ports & Logistics’ operations comprise container terminals, a multi-purpose terminal, inland container depots, container freight stations and additional logistics activities, such as rail service offerings across India. The company handles a combined container volume of approximately 1.6m teu and recently won additional concessions for operating container terminals in Nhava Sheva and Tuticorin.
“Terminal and infrastructure investments are a crucial element of our strategic agenda and India is one of our key growth markets. Acquiring a significant share in J M Baxi Ports & Logistics will significantly boost our presence in India with a trusted local partner and it is another important step to build up our terminal and infrastructure business,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.
Hapag-Lloyd most recently acquired the terminal business of Chile-based SAAM and also has stakes in the Italy-based Spinelli Group, the JadeWeserPort in Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, Terminal TC3 in Tangier, and Terminal 2 in Damietta, Egypt, which is currently under construction.
