[Courtesy of Hyundai Merchant]
Hyundai Merchant Marine said Friday it has been selected as preferred bidder for a terminal in Algeciras, Spain, following its failed bid to acquire assets of South Korea's troubled Hanjin Shipping.
Hyundai Merchant, which is under rehabilitation by creditors, said in a regulatory filing that it would seek to buy a 100 percent stake in
Total Terminal International Algeciras S.A.U. (TTI Algeciras).
TTI Algeciras is in the Port of Algeciras Bay, a strategic point in the Strait of Gibraltar.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
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