For Baleària's president, Adolfo Utor, this strategic agreement allows Baleària to achieve the size and capacity necessary to compete in a market marked by the presence of large transnational groups with significant financial strength, as well as to guarantee the stability of maritime services and employment: “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.” Furthermore, if the CNMC gives its approval, Utor has stated that “Baleària will take up the baton from the historic Trasmediterránea and the Armas shipping company, both deeply rooted and highly regarded in the Canary Islands, and will use the synergies generated to consolidate the presence of a competitive local shipping company.”

Additionally, the president of Baleària emphasises that the approval of this deal will guarantee stability and territorial cohesion in a strategic sector, as a Spanish shipping company will be able to manage the set of public interest routes. “Spain's national structure cannot be understood without stable, high-quality, modern, and regular maritime connections; a role we have been fulfilling for more than 25 years. This was particularly clear during the COVID pandemic, and we are committed to continuing to offer this service in its entirety.”

Adolfo Utor also explained that Baleària is aware of the huge challenge this process represents: “We are well prepared and fully convinced that we will be able to turn this project into a reality. We know we can count on the enthusiasm and commitment of all our stakeholders to make this happen, and we will be bringing the synergies and strengths of our new teams to the table.”

The inter-island routes in the Canary Islands, Canary Islands-Peninsula, Alboran and Algeria generated approximately EUR 420 million in revenue in 2024. The main assets that are part of this operation are the vessels VOLCAN DE TENO, VOLCAN DE TAMADABA, VILLA TAZACORTE, VOLCAN DE TINAMAR, VOLCAN DE TINDAYA, JUAN J SISTER, ALMARIYA and VOLCAN DE TIMANFAYA, as well as port terminals, offices, concessions and service agreements in ports that are critical to the Group's operations in these regions, including La Esfinge, Tenerife, Arrecife, Puerto Rosario, Cádiz, Melilla, Motril, Almería, La Palma, La Gomera, Valverde, Los Cristianos, Argelia and Nador.

The Strait routes included generated approximately EUR 66 million in revenue in 2024. The main assets acquired by Baleària in this transaction include the vessel CIUDAD DE MALAGA and a concession in Algeciras.

DFDS, for its part, acquired the vessels VOLCAN DE TAMASITE and VILLA DE AGAETE, as well as the concessions and terminals in Algeciras, Ceuta, and Tangier Med.

“The growth of the Strait of Gibraltar ferry market has exceeded our expectations since we entered the market in 2024. The two ferries we are purchasing are already operating on overlapping routes and we expect to deliver a smooth transition and an immediate enhancement of services to both passengers and freight customers,” says Mathieu Girardin, Head of Ferry Division, DFDS.

Sergio Vélez, CEO and President of Naviera Armas Trasmediterránea, states, "We are very proud to announce these agreements, which reflect the effort, dedication, and unwavering commitment of the entire Armas Trasmediterránea team: crews, terminal and core areas, both in the maritime and land-based businesses. This step consolidates our future in the regions where we operate and demonstrates our capacity for transformation and constant improvement. With this transaction, Armas Trasmediterránea joins a larger project that will open up new opportunities for our employees and collaborators. These agreements mark the final touch to a demanding, lengthy, but very successful restructuring and transformation process, thanks to the commitment of all parties involved to recover the company's value."

Separately, Armas Trasmediterránea has signed an agreement in July for the sale of the vessel FORTUNY to Liberty Lines.

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