Arrow Global's ACO II fund has notified the Competition Authority (AdC) of the acquisition of exclusive control over Monte Rei Golf & Country Club, which consists of a group of seven companies operating in the tourism sector and dedicated to exploration and management of a set of tourist accommodation establishments and a golf course, all in the Algarve region.

According to a report by Jornal Económico, the operation consists of the acquisition, by ACO II MAY (ACO II), of exclusive control over the companies and assets that make up the business of Monte Rei Golf & Country Club, the resort located in Vila Nova de Cacela.

The activities of the Arrow Group, in Portugal, correspond to the management of overdue and doubtful debts and real estate investments; the exploration of tourist accommodation projects in the Algarve and Madeira regions, and golf courses in the Algarve and Lisbon; as well as the production and sale of ceramic floors and coverings.

The value of the deal has not been disclosed.