© Juan Carlos Redondo Silva | Dreamstime.com
By Mike Wackett
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 operational capabilities”, as well as by securing additional business.
An HMM ...
Comment on this article