Naviera Armas Can Go Ahead With The Acquisition Of Trasmediterranea
The National Commission of Markets and Competition (CNMC) has authorized the acquisition of Trasmediterranea by Armas, although the latter will have to comply with a series of commitments.
According to the CNMC, the sale posed risks for monopoly. Therefore, Naviera Armas will have to accept the entry of the German company FRS on the Motril – Melilla route, and on the connection between Huelva and the Canary Islands (including the inter island services). These routes are now operated by Armas.
In October the Acciona group reached an agreement for the sale of its 92.7% stake in Trasmediterránea to Naviera Armas for €260.4 million.