A core infrastructure fund managed by DIF Capital Partners is buying a minority stake in a Spanish container port hub.
The DIF Core Infrastructure Fund I (CIF I) and French shipping firm CMA CGM have agreed to acquire a 49% stake in the TTIA Container Terminal in Algeciras from South Korean shipping line HMM for an undisclosed sum.
HMM will own the remaining stake.
TTIA container terminal is located in the bay of Algeciras, at the Strait of Gibraltar 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.
Thomas Vieillescazes, partner of DIF, said: “TTIA is a modern and well-managed terminal, strategically located at the Strait of Gibraltar, with partners providing long-term volume support, making this an attractive investment for CIF I.”
To read the digital edition of the latest IPE Real Assets magazine click here.
