HMM buys stake in Hanjin’s US terminals
South Korean shipping line Hyundai Merchant Marine (HMM) is set to buy a 20% stake in a Hanjin Shipping’s US port operating subsidiary Total Terminals International LLC (TTI).
TTI, of which the Mediterranean Shipping Company (MSC) is the majority shareholder, operates container terminals in Seattle and Long Beach, California.
In addition to a stake in TTI, HMM will also purchase a stake in equipment-leasing firm HTEC as part of a combined US$15.6m deal.
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