The Grimaldi Group and Armas Trasmediterránea Group have signed a memorandum of understanding (MoU) that will see a sale of assets and greater collaboration between the companies.

From left to right: Diego Pacella, Antonio Armas, and Emanuele Grimaldi.

Under the agreement, Grimaldi Group will purchase five ro-pax vessels and two terminals in the ports of Valencia and Barcelona in Spain, in addition to offices and warehouses on the islands of Mallorca, Menorca and Ibiza.

The ships include Ciudad de Palma, Ciudad de Granada, Ciudad de Mahón, Volcán del Tiede, and Volcán de Tijarafe – all of which are currently deployed by Armas Trasmediterránea Group on various connections with Spain.

The agreement will also see Grimaldi Group obtain the rights to operate the ships on routes between mainland Spain and the Balearic Islands.

Emanuele Grimaldi, managing director at Grimaldi, said: “Upon completion of this operation, our group will extend its range of maritime services also to the Spanish domestic market, generating new synergies with the other connections we operate in the western Mediterranean.”