Hapag Lloyd announced that it has successfully completed the acquisition of a 40% stake in India's J M Baxi Port Logistics Limited (JMBPL), which has previously received approval from relevant antitrust authorities.
The shipping giant stated in a statement that in January 2023, it had reached an agreement with a subsidiary of Bain Capital Private Equity and the Kotak family, with Bain Capital Private Equity holding approximately 35% of JMBPL's shares and the Kotak family owning a significant portion of JMBPL's shares.
In the process of promoting its 2023 strategy, Hapag Lloyd pointed out that its involvement in the terminal industry continues to expand through the agreement to acquire SM SAAM's terminal business headquartered in Chile.
In addition, Hapag Lloyd also holds shares in Italy's Spinelli Group, Wilhelmshaven Container Terminal, Hamburg Altenwerder Container Terminal, Tangier TC3 Terminal, and Egypt's Damietta 2 Terminal, which are currently under construction.
By acquiring a stake in JMBPL, Hapag Lloyd is strengthening its influence in attractive growth markets in India while expanding its terminal and infrastructure businesses. ”
Hapag Lloyd pointed out that despite the completion of the acquisition, the signing parties agreed not to disclose any financial details of the transaction.
Hapag Lloyd earlier stated that this acquisition will strengthen the shipping giant's key strategic growth in India.