Additionally, Hapag-Lloyd 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 %. The parties have agreed to not disclose any financial details of the deal.
JMBPL is a private terminal and inland transport service provider in India, with operations comprising 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 1.6m teu.
J M Baxi Ports & Logistics Limited 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 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.
Hapag-Lloyd has been expanding the terminals sector, most recently through an agreement to acquire the terminal business of Chile-based SM SAAM.
Hapag-Lloyd 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.
The closing of the transactions is subject to approval by the relevant authorities and to additional conditions customary for a transaction.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed. |