Hapag to buy 35% stake in J M Baxi

Hapag-Lloyd has also signed a binding agreement with the promoters, the Kotak family, to subscribe to a capital increase and raise shareholding to 40%

JM Baxi has around 5,400 employees and handles around 1.6 million TEUs. It recently won additional concessions for operating container terminals in Nhava Sheva and Tuticorin

"Acquiring a significant share in J M Baxi 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." Rolf Habben Jansen, CEO, Hapag-Lloyd

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