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Hapag-Lloyd invests in India

[ January 27, 2023   //   ]

Hapag-Lloyd is to acquire 35% of Indian private terminal and inland transport service provider JM Baxi Ports & Logistics (JMPBL) from a Bain Capital Private Equity affiliate, for an undisclosed amount. It has also signed a binding agreement with JMBPL and its promoters, the Kotak family, to subscribe to a capital increase by the company and raise its shareholding to 40%. JMPBL’s operations include container terminals, a multi-purpose terminal, inland container depots, container freight stations and rail services. The company employs around 5,400 staff and handles about 1.6 million TEU a year. The company also recently won additional concessions for operating container terminals in Nhava Sheva and Tuticorin.

Earlier, antitrust authorities approved Hapag-Lloyd’s acquisition of a 49% minority stake in Italian terminal and transport operator Spinelli Group on 12 January.

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