Grimaldi to acquire Armas assets

2021-04-29T19:38:08+00:00 April 29th, 2021|Marketing|

The Grimaldi Group and Armas Trasmediterránea Group have signed a Memorandum of Understanding (MoU) for the sale of assets and property rights of the Spanish group, as a first step for a collaboration between the two groups.

This agreement provides for the purchase by the Grimaldi Group of five ropaxes and two terminals in Valencia and Barcelona, as well as offices and warehouses located on the islands of Mallorca, Menorca and Ibiza.

The ships involved are the ‘Ciudad de Palma’ (built 2007), ‘Ciudad de Granada’ (2001), ‘Ciudad de Mahón’ (2000), ‘Volcán del Teide’ (2010) and ‘Volcán de Tijarafe’ (2007), all currently deployed by Armas on various routes within Spain.

Also included is the purchase by the Grimaldi Group of the rights to operate between mainland Spain and the Balearic Islands for the transport of freight and passengers on the following routes: Barcelona – Mahon (Menorca), Barcelona – Palma de Mallorca, Barcelona – Ibiza, Valencia – Mahon, Valencia – Palma de Mallorca and Valencia – Ibiza.

Following the signing of the MoU, due diligence will be carried out with the aim of concluding the final transfer agreement and starting new operations by the forthcoming summer season.

“I am proud and very satisfied to have signed this agreement with Emanuele Grimaldi. For our Group this is not a withdrawal from the routes to the Balearic Islands since we will continue to carry out, in collaboration with such an important shipping group on the world stage, a large commercial activity that will allow us to offer our customers an extensive network of international maritime routes,” said President of Armas Trasmediterránea Group, Antonio Armas (pictured, in the middle).

“I am very happy to have signed this important agreement with Antonio Armas, with whom we immediately established a relationship of great mutual esteem and laid the foundations for a fruitful collaboration,” said Emanuele Grimaldi, Managing Director of the large group (pictured, right). “Upon completion of this operation, our group will extend its range of maritime services also to the Spanish domestic market, generating new synergies with the other connections we operate in the western Mediterranean.”