Hapag-Lloyd has agreed to buy a 35% stake in a growing Indian terminal operator from a US private equity outfit.
The German liner company will buy the stake in J M Baxi Ports & Logistics Ltd (JMBPL) from a Bain Capital Private Equity affiliate. Financial terms were not disclosed.
Hapag-Lloyd has also signed a binding agreement with JMBPL and its promoters, the Kotak family, to subscribe to a capital increase by the company and raise its shareholding to 40%.
