CMA CGM will buy HMM’s 50% stake in Total Terminal International Algeciras (TTIA), which operates a container terminal in the south of Spain.
HMM announced on 18 June 2020 that it was selling the stake for KRW59 billion (US$48.57 million), as the South Korean liner operator seeks to strengthen its liquidity after a string of losses.
TTIA is owned by HMM and HT Algeciras which is a special purpose company wholly controlled by HMM. The South Korean company directly owns a stake of 50% minus one...
https://container-news.com/cma-cgm-to-buy-stake-in-hmms-algeciras-terminal/