Balearia agrees deal to acquire parts of Armas Trasmediterranea

Spanish ferry operator Baleària has reached an agreement with the owners of Armas Trasmediterránea to acquire its business in the Canary Islands and the Alboran Sea, as well as a portion of its operations in the Strait of Gibraltar. The completion of the deal is now awaiting a final decision from Spain's National Markets and Competition Commission.

The agreement includes the management of 15 ferries and the integration of 1,500 shore-based and fleet employees into the Baleària group. The deal is described as a strategic move that will allow the Baleària group to grow and become more competitive in a Spanish maritime market that is dominated by five major transnational groups.

Adolfo Utor, President of Baleària, stated, “if this deal goes ahead, it will help a local Spanish shipping company to continue competing efficiently with the large groups that have recently arrived and are already operating in our waters.” 

He also noted that the approval of the deal would “guarantee stability and territorial cohesion,” by allowing a Spanish company to manage a key set of public interest routes, a role it stated is “essential for the country's national structure.”