HMM joins forces with CMA CGM on TTI Algeciras operation

HMM has signed a sales and purchase agreement with CMA CGM for the sale of its 50% stake minus one share in Total Terminal International Algeciras (TTI Algeciras).

Although it has decided to sell its own 50% stake minus one share in TTI Algeciras, HMM still maintains its position as the largest shareholder through its special purpose company HT Algeciras.

HT Algeciras is wholly controlled by HMM and holds the remaining 50% stake plus one share.