Naviera Armas Trasmediterránea, through its holding company Bahía de las Isletas S.L., announces the signing of two binding agreements for the sale of its operations to Baleària Eurolíneas Marítimas and its activities in the Strait to DFDS Iberia S.L.
Bahía de las Isletas S.L., which operates under the Armas Trasmediterránea brand, has reached two binding agreements. The first corresponds to the sale of its business activity; routes, assets and employees, in the Canary Islands, Peninsula, Algeria and Alborán, together with the land transport business, to Baleària. The second agreement refers to all the assets and employees of the Strait operations to DFDS and Baleària. Independently, the Group signed an agreement in July for the sale of the Fortuny vessel to Liberty Lines.
The inter-island routes in the Canary Islands, Canary Islands-Peninsula, Alborán and Algeria generated approximately 420 million euros of revenue in 2024. The main assets that are part of this operation are the vessels Volcán de Teno, Volcán de Tamadaba, Villa Tazacorte, Volcán de Tinamar, Volcán de Tindaya, Juan J Sister, Almariya and Volcán de Timanfaya, as well as port terminals, offices, concessions and service agreements in ports that are critical for the Group's operations in these regions, including La Esfinge, Tenerife, Arrecife, Puerto Rosario, Cádiz, Melilla, Motril, Almería, La Palma, La Gomera, Valverde, Los Cristianos, Algeria and Nador.
The included routes of the Strait generated approximately 66 million euros of revenue in 2024. The main assets acquired by Baleària in this operation include the vessel Ciudad de Málaga and a concession in Algeciras. For its part, DFDS acquires the vessels Volcán de Tamasite and Villa de Agaete, as well as the concessions and terminals of Algeciras, Ceuta and Tánger Med.
The culmination of both sales processes is subject only to the usual approvals of the competition authorities. The company has already obtained the necessary authorizations from shareholders and creditors to proceed with the implementation of both operations.
Sergio Vélez, CEO and president of Naviera Armas Trasmediterránea, states that “We are very proud to announce these agreements, which reflect the effort, dedication and unwavering commitment of the entire Armas Trasmediterránea team: crews, terminal teams and central areas, both in the maritime and land business. This step consolidates our future in the regions where we operate and demonstrates our capacity for transformation and constant improvement. With this operation, Armas Trasmediterránea is integrated into a larger project that will open new opportunities for our employees and collaborators. These agreements put the finishing touch to a demanding, long, but very successful restructuring and transformation process, thanks to the commitment of all parties involved in recovering the value of the company.”
The president of Baleària, Adolfo Utor, has highlighted that the signing of these strategic agreements would allow Baleària to “take up the baton of the historic Trasmediterránea and the Armas shipping company, so rooted in the Canary Islands, and guarantee stability and territorial cohesion through a more competitive local shipping company with the synergies generated between Baleària and Armas Trasmediterránea.”