CMA CGM S.A. and DIF Core Infrastructure Fund I, a fund of DIF Capital Partners completed the acquisition of 49.9% stake in Total Terminal International Algeciras, S.A.U. from HMM Co.,Ltd.
March 28, 2021
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CMA CGM S.A. and DIF Core Infrastructure Fund I, a fund of DIF Capital Partners signed an agreement to acquire 49.9% stake in Total Terminal International Algeciras, S.A.U. from HMM Co.,Ltd (KOSE:A011200) for KRW 58.9 billion on August 10, 2020. CMA CGM S.A. and DIF Core Infrastructure Fund I will acquire 24.9 million shares of Total Terminal International Algeciras, S.A.U. Post completion HMM Co.,Ltd will not hold any stake in Total Terminal International Algeciras, S.A.U. The transaction is subject to regulatory approval in Spain, business combination declaration, opening of a CAPEX/Cash Shortfall Escrow account, approval by the best decision-making body of each company (shareholder or board of directors), approval of Algeciras Port Authority (APBA), refinance contract and agreement between labor and management. The transaction is also subject to antitrust authority approval. The transaction was approved by Port Authority of the Bay of Algeciras in October 2020. The transaction is expected to be completed in the fourth quarter of this year. As of March 2, 2021, the transaction was expected to complete on February 26, 2021.
CMA CGM S.A. and DIF Core Infrastructure Fund I, a fund of DIF Capital Partners completed the acquisition of 49.9% stake in Total Terminal International Algeciras, S.A.U. from HMM Co.,Ltd (KOSE:A011200) on March 1, 2021.
HMM Co Ltd, formerly Hyundai Merchant Marine Co Ltd, is a Korea-based company specialized in the provision of shipping services. The Company operates its business through three segments. The Container segment provides dangerous cargo service, reefer cargo services, over-sized cargo service and others. Its container services provide container carrier transportation services, which include transpacific services, Asia-Europe services, transatlantic services, intra-Asia services and Latin America services. The Bulk segment provides transportation services with vessels such as tankers, liquid natural gas (LNG) carriers, liquid petroleum gas (LPG) carriers and trampers for LNG, LPG, steel mills, power plants, coals and iron ores suppliers. The Other segment engages in the terminal operation.
CMA CGM S.A. and DIF Core Infrastructure Fund I, a fund of DIF Capital Partners completed the acquisition of 49.9% stake in Total Terminal International Algeciras, S.A.U. from HMM Co.,Ltd.
HMM CO.,LTD 
