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18 January 2019 The on-line newspaper devoted to the world of transports 06:27 GMT+1

October 26, 2017

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Original news
Naviera Armas will buy Trasmediterranea becoming leader in Spain in the segment of marine transport ro-pax

92.7% of the capital of the company will be yielded by Acciona for
260,4 million euros
the Spanish Naviera Armas will become national leader in the segment of the marine transport of passengers and rotabili. The navigation company, that it has a fleet of 13 ships of which ten traditional ferries and three fast units ro-pax, in fact has tightened an agreement with the Acciona group in order to acquire the Trasmediterranea compatriot, company that has 21 ships of which 14 traditional ferries, four fast units ro-pax and three units ro-ro.

the understanding previews that Naviera Armas currently acquires for 260,4 million euros 92.7% of the capital of Trasmediterranea of property of Acciona, group that has obtained the control of the company in 2002 to the action of its privatization(of the 31 July 2002). Naviera Armas will be made also loaded with 127,3 million euros of debits of the Trasmediterranea regarding the societies of the Acciona group. The agreement previews moreover that the final price can grow to the maximum of ulterior 16 million euros on the base of the future trend of the recorded Gross Operating Margin from the company. The parts have specified that the transaction attributes to Trasmediterranea a total value comprised between 419 million and 436 million euros.

Second the forecasts, the acquisition will be capacity to term in the first trimester of the next year after the approval of the Spanish authorities antitrust.

For a long time Acciona had expressed intention the intention to sell Trasmediterranea. "This operation - the president of the group has explained, José Manuel Entrecanales - allows us to adapt and to strengthen the model of business of Acciona centralized on sustainable infrastructures and the cleaned energies, online with the expectations of the market. Therefore it has been decided to conclude this operation in the moment more opportune than resumption of the field of the marine transport, after a process of improvement of the operating efficiency of the society and with a Spanish purchaser of the field that knows the market well and that without a doubt it will contribute to strengthen the competitive position of Trasmediterranea".

Last year the ships of the Trasmediterranea, that the Iberian peninsula and the Balearic ones are employed on 32 routes between, the North Africa and the Canaries, have transported 2,5 million passengers (+2.3% on 2015), 5,8 million linear meters of goods ro-ro (+2.3%) and 576 thousand motor vehicles (+5.7%).

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