PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
Ccent/2024/83 - Explorer/JASE
Acquiring
Explorer Hospitality Fund I – Fundo de Capital de Risco Fechado
Description
Venture capital fund created for investments in the hospitality sector in Portugal. It is managed by Explorer Investments, a company that manages private equity funds (including expansion capital).
Acquired
J. A. S. E. - Joaquim, Afonso & Salvador - Empreendimentos Turísticos, Lda.
Description
Company that controls the Douro Royal Valley and Douro Palace hotel establishments, located in Portugal.
Sector
  • Tourism & leisure activities 
Activity (NACE)
  • I5511 - Hotels and similar establishments with restaurant
Applicable legislation
Art. 37(1)(c) (Law 19)
Notification thresholds
Turnover threshold
Type of merger
Horizontal
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description

The notified operation consists of the acquisition, by Explorer Hospitality Fund I (“Hospitality Fund I”), of the exclusive control of J. A. S. E. - Joaquim, Afonso & Salvador - Empreendimentos Turísticos Ltda (“JASE”) and, indirectly, of the “Douro Royal Valley Hotel & Spa” (“Douro Royal Valley”) and “Douro Palace Hotel Resort & SPA” (“Douro Palace”), through a vehicle company.
Timeline
2024-12-18
The AdC issued a non-opposition decision to the merger 83/2024 - Explorer/JASE.
2024-11-29
Explorer notifies the acquisition of exclusive control over JASE.
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