December 18, 2020

Four Operators Interested in Trasmediterranea?

There might be at least four players interested in Compania Trasmediterranea, the Spanish ferry company part of Armas Group. The latter is in advanced talks with lenders and bond holders for receiving fresh capital and also renegotiating the terms of the bond due to expire in the next few years.

According to the Spanish media Ok Diario two Italian groups and the local shipping players Balearia and Boluda have shown their interest in the restructuring plan which is being studied by some advisor and investment funds.

The two Italian potentially interested groups are likely to be Grimaldi Group and Grandi Navi Veloci.

Ok Diario also revealed that the property of two ferries previously controlled by Armas Group has been transferred earlier this year to a pair of Luxembourg-based purpose-built companies and are likely to be as guarantee for a needed fresh money injection. Other four ro-pax ships in fleet were also transferred to a new Canary island-based company called Armas Trasmediterranea Factoring Sl last June.