GNV In Negotiation for a 25% Stake in Africa Morocco Link?

By | 2019 Newsletter week 25 | No Comments

The MSC-controlled ferry company Grandi Navi Veloci seems to be in advanced negotiation for taking a minority share in Africa Morocco Link.

The rumour was reported by several media both in Morocco and in Greece while the Genoa-headquartered company preferred not to comment on the issue upon request from Ferry Shipping News.

Africa Morocco Link operates between the ports of Tanger and Algeciras with a fleet of three ferries offering regulars sailings between the two sides of the Mediterranea sea.

As of today, the company founded in 2016 is jointly participated by the Moroccan BMCE Bank (51%) and the Greek group Attica (49%). According to what local media reported, BMCE bank should dismiss the AML’s majority share under its control before the end of the third year from the company foundation and that would be the reason why Grandi Navi Veloci was contacted as a potential investor.

Below a photo of LE RIF in AML colours, still in Genoa on 19 June.

FERRY FINANCE

By | 2019 Newsletter week 24 | No Comments

Africa Morocco Link’s BMCE Bank Gets Exemption

Africa Morocco Link is a company owned by Attica Group (49%) and the Moroccan BMCE Bank (51%).

According to a law, the bank is allowed to run a non-banking business for a limited time only.

Therefore, BMCE Bank was looking to sell a number of its shares, with 4 May as deadline. This attempt was unsuccessful.

In order not to disrupt the Operation Marhaba 2019, when thousands of expats come back to Morocco for the summer, the Government decided to give the bank more time.

Africa Morocco Link to open a new route to Nador

By | 2017 Newsletter week 41 | No Comments

Africa Morocco Link (AML) is about to start a new passenger ferry line from Almeria to Nador, presumably in mid October.
To make this possible, the company will move ro-pax DIAGORAS from its actual route Algeciras -Tanger Med, leaving MORROCO STAR as the sole vessel on the ‘short’ route, until a third vessel can be found.
AML began operations in 2016, and was founded by Attica Group and BMCE Bank (51% by the businessman Othman Benjelloun and Attica Group 49%).
The new line on the ‘long’ route is in direct competition with Trasmediterranea.

Photo © AML