The Grimaldi Group has decided to carry out a new capital increase of €50 million in its Spanish subsidiary Trasmed. The decision, made by the shareholders of the shipping company, aims to strengthen the company’s financial position and reduce its debt burden. With this operation, Trasmed’s share capital now stands at €347 million.
The company, which operates ferry services between mainland Spain and the Balearic Islands, was established in 2021 following the acquisition of assets from the Armas Trasmediterránea group. This capital injection from the parent company will be specifically used to reduce accumulated debt, mainly stemming from the syndicated loan signed to finance the initial acquisition of the vessels that make up its assets. Once the capital increase is completed, Trasmed’s total debt will be reduced to €26.4 million.
The Grimaldi Group closed the 2024 financial year with more than €1.4 billion in cash and a turnover exceeding €5 billion.
