HMM Sells 50% Stake in Spain Algeciras Terminal
[Asia Economy Reporter Kang Nahum] HMM announced on the 18th that it has sold 24,999,999 shares of the Algeciras Terminal (TTIA) in Spain.
The disposal amount is approximately 58.9 billion KRW, which corresponds to 3.7% of its equity capital.
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HMM stated, "The purpose of the share sale is to secure liquidity and ensure stable profitability through the operation of a joint venture (JV) with strategic business partners," adding, "Even after the share sale, we retain 50% of the shares, maintaining management rights and majority shareholder status as before."
This content was produced with the assistance of AI translation services.
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