Hapag-Lloyd has made another investment in the port terminals, sector in which the shipping company German containerized has recently entered forcefully, signing a binding agreement to buy 35% of the capital of the Indian J M Baxi Ports & Logistics Limited (JMBPL) from an affiliate of the American Bain Capital Private Equity. In addition, the German company has signed a further agreement binding with JMBPL and its promoters, i.e. the Indian family Kotak, to subscribe a capital increase of the company terminalista and raise the stake of Hapag-Lloyd to 40%.
J M Baxi Ports & Logistics has about 5,400 employees and Its port terminals enliven an annual traffic equal to approximately 1.6 million teu. The company's network consists of Indian Port Terminals Mumbai International Cargo Terminal (MICT), Visakha Container Terminal (VCT), Delhi International Cargo Terminal (DICT), Rozi International Cargo Terminal (RICT), Haldia International Container Terminal (HICT), Paradip International Cargo Terminal (PICT) and Kandla International Container Terminal (KICT).
"Investments in terminals and infrastructure - he has emphasized the CEO of Hapag-Lloyd, Rolf Habben Jansen - are a crucial element of our strategic agenda and India is one of our main growing. The acquisition of a significant stake in J M Baxi Ports & Logistics Limited will considerably strengthen our presence in India with a trusted local partner and represents a Another important step to increase our business in the terminal and infrastructure sector'.
The recent stages of Hapag-Lloyd's vertical growth include the acquisition of the terminal activities of the Chilean SAAM, of shareholdings in the Italian group Spinelli, in the JadeWeserPort of the German port of Wilhelmshaven, in the Container Altenwerder Terminal of the Port of Hamburg, in Terminal TC3 of the Moroccan port of Tanger Med and in Terminal 2 of the Egyptian port of Damietta which is currently under construction.