Italian Economic Diplomacy 16 April: breaking news from around the World

SPAIN - GRIMALDI ACQUIRES FIVE SHIPS AND TWO TERMINALS FROM THE SPANISH SHIPPING COMPANY ARMAS.

The Grimaldi Group and the Spanish shipping company Armas Trasmediterranea Group, based in the Canary Islands, have signed an agreement for the purchase by Grimaldi of five ships and two terminals in the ports of Valencia and Barcelona, as well as offices and warehouses located in the islands of Majorca, Minorca and Ibiza. Moreover, Grimaldi acquires Armas's rights to operate between continental Spain and the Balearic Islands to transport goods and passengers on the maritime routes operating towards Mahon (Minorca), Palma de Mallorca and Ibiza, both from Barcelona and Valencia.

Armas' agreement will be finalised at the end of the due diligence process, with a view to taking advantage of the resumption of tourist activities linked to the next summer season.