Acciona has finally reached an agreement to sell its 92.7% stake in Trasmediterranea to the Naviera Armas Group.
Acciona’s stake is being sold for EUR 260.4 million, and the buyer will assume EUR 127.3 million of debt owed by Trasmediterranea to Acciona group companies.
The deal will foreseeably be completed in the first quarter of 2018, once it has been approved by the competition authorities.
The disposal responds to Acciona’s goal of concentrating on its core business: sustainable infrastructure and renewable energy.
Since it was acquired by Acciona in 2002, Trasmediterranea has become firmly established as Spain’s largest shipping company and one of Europe’s leading ferry operators. It sails a total of 32 routes, mainly linking mainland Spain with the Balearic Islands, North Africa and the Canary Islands.
It also provides logistics, shipping agency and cruise ship handling services, and operates five port terminals.
Last year, it transported 2.5 million passengers (+2.3%), 5.8 million lane meters of cargo (+2.3%) and 576,000 vehicles (+5.7%).
Photo © Mike Louagie