Brussels Authorises Apollo’s Purchase of 2 Lopesan Hotels in the Canary Islands

The EU Executive has given the green light to the purchase of Hotel Faro and Hotel Buenaventura by the US fund Apollo.

The European Commission has approved the purchase of two Lopesan group hotels in Gran Canaria – the Faro hotel and the Buenaventura hotel – by the US fund Apollo, after concluding that the operation will not have a negative impact on the European economic space, according to reports from Europa Press.

The EU Executive has concluded that the operation does not pose a threat to competition, since its impact on the tourism market will be limited.