Stakes In JM Baxi Group Bought By Bain Capital
American private investment firm Bain Capital has purchased a 30 percent stake in International Cargo Terminals and Infrastructure Pvt Ltd, a unit of Mumbai-based JM Baxi Group. The deal is one of the largest deals in the Indian port logistics business. The amount would be used by the firm to pare debt and for its expansion plans.Â
Container handling terminals at Visakhapatnam, Haldia, and Deendayal (Kandla) ports, a clean cargo terminal at Paradip port, container freight stations at Visakhapatnam, etc are the cargo systems that the firm is running at the moment. The firm was earlier said to be in talks with global investors like Warburg Pincus, Canadian pension fund Canada Pension Plan Investment Board, etc for the fundraising.