Arrow Global Portugal hosts Innovation Challenge for the third time
Group of national investors buys Vilamoura
A group of Portuguese investors, led by João Brion Sanches, has reached an agreement with the US company Lone Star for the acquisition of Vilamoura (Lusotur). The deal represents a co-investment between this group of national investors and the Arrow Global investment fund, which owns Norfin and Whitestar Asset Solutions in Portugal. The operation with the investors was supported by Norfin, which is also taking on a consultancy role in the future management of Vilamoura.
João Brion Sanches, who will be the new CEO of Vilamoura (Lusotur), explains that “Nobody really owns Vilamoura. This group of investors intends to be the guardians of this heritage, to guide it and take good care of it for generations to come. We have a medium- to long-term vision for the region, which involves developing a sustainable, quality product, so that it can establish itself as the best destination in the Algarve for living, investing and vacationing, for both nationals and foreigners.”
The Portuguese management of Vilamoura (Lusotur), which manages the marina, the equestrian center, the environmental park and the Cerro da Vila museum, will develop the expansion project already approved by the national authorities.
“This is a very important project for us that represents an essential investment for the Algarve, at a time when the country and the economy are still trying to recover from the strong impacts caused by the pandemic,” adds Francisco Sottomayor, CEO of Norfin.
The deal includes the acquisition of Vilamoura marina, the largest and most awarded marina in Portugal and one of the largest in Europe, with 825 berths, a fully equipped shipyard and a professional sail training center.
The transaction also includes the equestrian center, one of the largest and best in Europe, with four arenas, including three on sand and one on grass, the capacity to permanently receive 870 horses in individual stalls, and the annual Vilamoura Atlantic Tour and Vilamoura Champions Tour, emblematic events that select teams for the Olympic Games and the world show jumping championships.
The new owners will also take possession of the 200-hectare protected environmental park, which will be completely rehabilitated, as well as the Cerro da Vila museum, which includes 5,000 years of history, with a special focus on the Roman occupation of the Iberian Peninsula.
