Lone Star €133 million acquisition of Garvecat

Overview:

• Private equity fund Lone Star completed the acquisition of Garvecat, the holding company of the Lusort group, from CatalunyaCaixa, for a fee reported to be €114 million, together with financial debt.
• Garvecat was the holder of the Vilamoura Marina, one of the largest marinas in Portugal, and other real estate assets. 
• Prasa, a real estate company, bought Vilamoura in 2003 for €360 million. 

John Crabb - Journalist