By Adria Calatayud


Hapag-Lloyd AG said Wednesday it has acquired a 35% stake in India's J M Baxi Ports & Logistics Ltd. from a Bain Capital Private Equity affiliate as it continues its expansion into the terminal sector.

The German shipping company, which didn't disclose financial details of the deal, said it also signed an agreement with JMBPL to participate in a capital increase by the company and raise its shareholding to 40%.

JMBPL, a provider of terminal and inland transport services, handles a container volume of around 1.6 million twenty-foot equivalent unit, Hapag-Lloyd said.

Hapag-Lloyd in October signed a deal to buy Chile-based Sociedad Matriz SAAM SA and has recently taken stakes in Italy-based Spinelli Group and several terminals in Europe and Africa.


Write to Adria Calatayud at adria.calatayud@dowjones.com


(END) Dow Jones Newswires

01-25-23 1005ET