AML is headquartered in Tangier, operating a ferry route between Tanger Med – Algeciras. This summer, the company will also launch a new high-speed route between Tangier Ville and Tarifa. The first route is open for freight and travel customers. The second one will be a route for passengers and cars.

“We are always looking to secure new business opportunities that will make us last and be resilient in the long run. The Strait of Gibraltar is a strategic location for passengers travelling between Africa and Europe as well as for global trade, and freight volumes in the area are expected to grow in the upcoming years due to the positive industrial growth and international trade in Morocco,” says Niclas Mårtensson, CEO at Stena Line.

He continues:

“These routes, their ports, and the surrounding industries are under development and expected to drive a healthy freight market growth in the coming ten years. It’s a very exciting area to be able to operate in.”

The total consideration amounts to EUR 49m while the net profit for the Attica Group is expected to exceed EUR 21m and will be included in the group’s financial results upon completion of the transaction.

The CEO of Attica Group, Panos Dikaios, stated: “The agreement for the sale of our operation in Morocco, is within the context of our strategic planning for reallocation of our resources towards our core business in view of our continuous investments for fleet renewal and green transition.The transaction price portrays the successful completion of this business venture and crystalizes the value accretion for our Group”.

Only last week was it announced that Compagnie de Transports au Maroc (CTM) had entered into an agreement to acquire the other 51 percent held by Bank of Africa.

Both agreements are subject to approval by the authorities.

© Shippax