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Hapag-Lloyd to buy 40% stake in container terminal firm JM Baxi Ports

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Illustration: Ajay Mohanty

2 min read Last Updated : Jan 26 2023 | 11:31 AM IST

Germany's Hapag-Lloyd has signed a binding agreement to acquire a 35 per cent stake in J M Baxi Ports & Logistics (JMBPL) from an affiliate of Bain Capital Private Equity for an undisclosed amount.

Hapag-Lloyd also signed an agreement with JMBPL and its promoters, the Kotak family, to subscribe to a capital increase by the company and raise its shareholding to 40 per cent.

JMBPL’s operations comprise container terminals, a multi-purpose term