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Swiss shipping group acquires 80 per cent stake in US ports operator

Published Thu, Feb 2, 2017 · 09:50 PM
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London

A UNIT of Swiss shipping group MSC has bought a stake in US ports operator Total Terminals International (TTI) from Hanjin, MSC said on Wednesday, having overcome objections from the South Korean line's US creditors.

Privately owned MSC said in a statement that its subsidiary Terminal Investment Ltd (TiL) had completed the acquisition in conjunction with South Korea's Hyundai Merchant Marine (HMM), which would see TiL having an 80 per cent stake and HMM the remaining 20 per cent in TTI.

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