Hapag-Lloyd AG to acquire 35 per cent stake in JMBPL

Hapag-Lloyd has signed a binding agreement to acquire a 35 per cent stake in J.M. Baxi Ports and Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate. Further, the company has signed a binding agreement with JMBPL and its promoters, the Kotak family, to subscribe to a capital increase by the company and raise Hapag-Lloyd’s sh­a­reholding to 40 per cent. JMBPL is a private terminal and inland transport service provider in India, with operations comprising container terminals, a multipurpose terminal, inland container depots, container freight stations and additional logistics activities, such as rail service offerings across the country.