The Grimaldi Group has closed the year 2024 with more than 1.4 billion euros of treasury and a turnover of more than 5 billion euros (Photo courtesy of Transmed)

The Grimaldi Group has decided to make a further capital increase in its Spanish subsidiary Trasmed, worth EUR 50 million. The decision, made by the shipping partners, aims to strengthen the company's financial position and reduce its debt burden. With this operation, the share capital of Trasmed will reach 347 million euros. The company, which operates ferry services between the Peninsula and the Balearic Islands, was formed in 2021 after the purchase of assets of the group Armas Transmediterrátil. This capital injection by the matrix shall be specifically intended to reduce the accumulated debt, mainly from the syndicated loan signed to finance the initial acquisition of the vessels that make up their assets. After enlargement, the total debt of Transmed will be reduced to EUR 26 '4 million.