The Competition Authority (AdC) has approved the purchase of another golf club by Arrow, which had been under analysis for two weeks. The British group, through the ACO II fund, has acquired exclusive control of Monte Rei Golf & Country Club, in Vila Nova de Cacela, in the Algarve, according to a report by ECO.

The AdC “decides to adopt a decision of non-opposition to the concentration operation, under the terms of paragraph b) of paragraph 1 of article 50 of the Competition Law, since it is not likely to create significant barriers to competition effective in the national market or in a substantial part of it”.

The transaction that received the OK from the antitrust regulator encompasses the companies and assets that make up the Monte Rei Golf & Country Club business: seven companies that operate in the tourism sector, under the brand of the same name, and that are dedicated to the operation and management of a set of tourist developments and a golf course in the Algarve region.

Founded in 2005 in the United Kingdom, the Arrow Global Group is regulated in seven European countries where it is present with more than four thousand employees and more than 110 billion euros under management. In Portugal, the company is made up of Whitestar, Norfin, Restart Capital and Details, from which this investment will be managed.

Details – Hospitality, Sports, Leisure is the platform responsible for managing the hotel, sports and leisure areas of Arrow Global in Portugal. As an example, this British group took over the management of Aroeira – on the Caparica coast – at the end of 2023 as part of an agreement with Novobanco in relation to land worth more than 15 million euros.

In addition to PGA Aroeira Lisboa, Details manages seven other golf courses in Portugal, including Vilamoura, Lagos (Palmares) and Vale Pisão, in the parish of Água Longa (Santo Tirso), according to information shared by the company.

“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”, summarised the entity led by Nuno Cunha Rodrigues.