DIF Capital Partners and French shipping giant CMA CGM have signed a sale and purchase agreement to acquire a 50 percent stake in the TTIA Container Terminal in Algeciras from HMM, the largest South Korean shipping line. Financial terms were not disclosed.
TTIA, which is currently 100 percent owned by HMM, is a modern semiautomatic container terminal located in Algeciras on the Spanish side of the Strait of Gibraltar. It is positioned directly on the main shipping routes for containerized maritime traffic to Asia, Europe, the Mediterranean, North and West Africa, as well as North and South America.
TTIA operates under a concession provided by the Port of Algeciras Bay Authority, which runs until 2043.
DIF signed the deal on behalf of its Core Infrastructure Fund I (CIF I), which invests in small- and mid-sized economic infrastructure assets around the world, targeting mid-term contracted cash flows with a modest risk profile.
The completion of the acquisi
