HAMBURG: Only recently we have announced that we signed a binding agreement under which we will acquire 35 % of J M Baxi Ports & Logistics Limited (JMBPL) from a Bain Capital Private Equity affiliate and to subscribe to a capital increase by the company and raise
Hapag-Lloyd’s shareholding to 40%, informs a recent company statement.
J M Baxi Ports & Logistics Limited is a leading private terminal and inland transport service provider in India. The 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 employs around 5,400 staff and handles a combined container volume of approximately 1.6 million TEU.
The Container terminal in Kandla
India is the world's fastest growing economy and a strategic growth market for Hapag-Lloyd. According to the International Monetary Fund, India is expected to grow by more than 6% annually in the coming years. India maintains diversified and balanced trade relations and around
two-thirds of the population is expected to belong to the middle class by 2030. At the same time, India is expected to have the potential to become the world's third-largest economy in the next five to ten years.
“Acquiring a significant share in J M Baxi Ports & Logistics Limited 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.
Joining forces with J M Baxi Ports & Logistics will give us access to further terminal capacity and transport services in the Indian market. As a quality provider, this will enable us to offer our customers new products and even better services.
In driving our Strategy 2023, we have continuously expanded our involvements in the terminal sector, most recently through an agreement to acquire the terminal business of Chile-based SM SAAM. Furthermore,
we also have 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.
The closing of the transactions is subject to approval by the relevant authorities and to additional conditions customary for a transaction of this kind.
