DFDS’ agreement to acquire Naviera Armas’ Strait of Gibraltar ferry operations on Algeciras-Tangier Med has been approved by the Spanish and Moroccan competition authorities.
The transaction includes one combined freight and passenger ferry (RoPax) deployed on Algeciras-Tangier Med. Permits related to route operations are also included and around 200 employees will transfer to DFDS. The total purchase price for the Algeciras-Tangier Med route assets is DKK 165m. The transaction was completed today.
The route will be merged with DFDS’ existing ferry route on Strait of Gibraltar between Algeciras and Tangier Med. This will expand and enhance DFDS’ customer offering to both freight customers and passengers and add scale to operations in a growing market.
The purchased ferry is Volcan de Tamasite (RoPax) built in 2004. In addition, the capacity share is increased from 33% to 50% on a joint freight ferry (RoRo) for the incumbent operators on Algeciras-Tangier Med.
DFDS will not acquire Algeciras-Ceuta
DFDS’ agreement to acquire Naviera Armas’ Strait of Gibraltar ferry operations on Algeciras-Ceuta was conditional on the degree of competition authority restrictions. As the Spanish competition authority’s requirements went beyond the agreed conditions, DFDS has decided not to proceed with this agreement.
Capex outlook adjusted
DFDS’ 2026 full-year capex outlook is maintained unchanged at DKK 1.7bn as the added acquisition capex of DKK 165m is expected to be offset by lower than expected operating capex. The Adjusted free cash flow outlook is unchanged as acquisition capex is not reported as part of the Adjusted free cash flow.
(DFDS)
