Hapag-Lloyd Invests $800 Million to Secure 50% Stake in JM Baxi Ports & Logistics

MUMBAI: German shipping giant Hapag-Lloyd AG, ranked as the world's fifth-largest container shipping company, has increased its ownership in JM Baxi Ports & Logistics Ltd to 50 percent following a substantial cumulative investment of $800 million, according to the company's Chief Executive Officer Rolf Habben Jansen. The German container line initially entered the Indian market in January 2023 by acquiring a 35 percent stake in the Mumbai-headquartered company, which is managed by the Kotak family. The stake was purchased from an affiliate of Bain Capital, a prominent US-based private equity firm. Following this initial acquisition, Hapag-Lloyd progressively increased its ownership to 40 percent and subsequently to 50 percent through strategic capital infusions. "We currently hold a 50 percent stake in JM Baxi Ports & Logistics. This is a genuine partnership built on mutual trust and shared goals. The investment across JM Baxi Ports and Logistics is distributed among three companies, but the overall ownership structure remains 50-50. Our total investment for acquiring this stake amounts to $800 million," Jansen disclosed. The partnership has been carefully