Grimaldi forms Trasmed – takes over Balearic operations

2021-07-25T19:09:23+00:00 July 25th, 2021|Marketing|

Trasmed GLE, a new Spanish-based company recently formed by the Grimaldi Group, is to acquire Armas Transmediterranea.

Based in Valencia, the new company will operate five passenger and cargo ferries.

In addition, Trasmed will takeover Armas’ Valencia terminal, warehouses, offices and ticket offices in Valencia, Palma (Maj), Mahon and Ibiza, as well as the rights to operate a service between the Spanish mainland and the Balearic Islands.

The vessels acquired include the ‘Ciudad de Palma’, ‘Ciudad de Granada’, ‘Ciudad de Mahon’, ‘Volcan del Teide’ (pictured) and the ‘Volcan de Tijarafe’. They will be joined by the Grimaldi-owned ‘Euroferry Egnazia’.

Armas Trasmediterranea’s current personnel will also be re-hired by the new company.

Mediobanca assisted the Grimaldi Group by insuring a loan of around €160 mill to Trasmed GLE, the company revealed.