CMA CGM takes 49% stake in HMM’s Algeciras container terminal

CMA CGM has signed a sales and purchase agreement with HMM to acquire a 49% stake in Total Terminal Algeciras (TTIA).
The remaining 51% of the Spanish container hub port will remain under the control of the South Korean carrier, by reason of its ownership of HT Algeciras, a special purpose company.
HMM said it expected “a great synergy effect, based on the strategic cooperation with CMA CGM” from “enhancing profitability and …

The post CMA CGM takes 49% stake in HMM’s Algeciras container terminal appeared first on The Loadstar.

Source: The Loadstar

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