A 35% stake in JM Baxi Ports & Logistics (JMBPL) was acquired by German shipping giant Hapag- Lloyd AG of the current shareholder Bain Capital Private Equity. In addition, Hapag-Lloyd AG and JMBPL has entered into a legally binding agreement to subscribe to a capital increase and a capital increase Hapag-Lloyd's share in the company at 40%.

Experts estimate the value of the deal at about $350 million. The kotak family owns 60.8% of JMBPL and Bain Capital, which invested 13.17 billion INR in 2021, owns the remaining 39.2%. With activities that include container terminals, inland container depots, container freight stations and additional logistics services throughout India, JM Baxi Ports & Logistics is a major private terminal and inland navigation service provider.

With a fleet of 252 modern container ships and a combined transport capacity of 1.8 million TEU, Hapag-Lloyd is one of the best liner shipping companies in the world. The company has approximately 400 offices in 137 countries worldwide with approximately 14,500 employees. Hapag-Lloyd has a teu of 3 million teu container capacity, including one of the largest and most advanced fleet reefer containers.

Rolf Habben Jansen, CEO of Hapag-Lloyd: "Terminal and infrastructure investments are a a key element of our strategic agenda and India is one of our key growth markets. Acquiring a significant stake in J M Baxi Ports & Logistics will significantly strengthen our presence in India with a trusted local partner; it is another important step to build our terminal and infrastructure business."

According to the statement, the conclusion of the transactions is subject to approval by the competent authorities and other criteria characteristic of a transaction of this nature.