May 23, 2025
Spanish ferry operators Baleària and Boluda Corporación Marítima have submitted non-binding bids to acquire Naviera Armas. The sale process is being managed by investment funds including JP Morgan, Barings, Cheyne, Bain, and Tresidor, who took control of Naviera Armas after capitalizing its debt.
Key Details:
- Baleària, advised by Deloitte, is bidding for two of the three main operational areas of Naviera Armas: the Canary Islands and the Alboran Sea routes. There is also an option to include the Strait of Gibraltar routes.
- Boluda, advised by KPMG, has partnered with a group of Canarian investors, including Rodolfo Núñez, president of the airline Binter, as well as companies like Satocan and Astican. Their bid focuses on maintaining and strengthening maritime connections within the Canary Islands.
- Spanish media also write that DFDS is interested in acquiring a smaller portion of Naviera Armas, specifically targeting the Strait of Gibraltar routes. Also Stena and MSC are sometimes mentioned.
- The shipping company’s valuation in the sale is estimated at around €200 million.
Trasmediterránea (Balearic routes) was sold to Grimaldi in 2021 and became Grimaldi Trasmed.
