Competition Commission has cleared the proposed acquisition of certain shareholding of JM Baxi Ports and Logistics Ltd by Germany's HLAG. The acquisition would be done by HL Terminal Holding B.V., a wholly-owned subsidiary of Hapag Lloyd Aktiengesellschaft.
JM Baxi Ports is a private terminal and inland transport service provider in India. In a release on Monday, Competition Commission of India (CCI) said it has given the approval for the acquisition of shareholding of JM Baxi Ports HL Terminal Holding B.V. The acquiring entity has been set up to serve as a strategic/investment holding company for the port terminal business of HLAG.
HLAG is the parent company of the acquirer group, which is headquartered in Germany. It is active in the maritime sector. Separately, CCI has given its nod for the acquisition of share capital of NSPIRA Management Services Pvt Ltd by three individuals -- Puneet Kothapa, Ponguru Sindhura and Ponguru Sharani.
Currently, the acquirers collectively hold 79.48 per cent in NSPIRA Management. The latter provides management services to educational institutions, majorly run by Narayana Group. In another release, the regulator said it has cleared the deal. The proposed combination pertains to acquisition of share capital from NHPEA Minerva Holding BV and Banyantree Growth Capital II, LLC. Deals beyond a certain threshold require the approval of CCI.
