The group is already present in Portugal through the credit recovery company Whitestar, and will now expand its presence through the acquisition of the real estate company which has as shareholders João Brion Sanches, Alexandre Relvas and Felipe de Botton.

It announced this week "to have reached an agreement with the shareholders of Norfin Investimentos SA for the acquisition of the whole company's respective capital", it can be read in a statement quoted by the Business.

Norfin currently has more than €1,500 million in assets and is owned by the founding shareholders. João Brion Sanches is also the CEO.

He says: "we are delighted to be joining Arrow Global. Over the last few years, we have created a business whose knowledge and capabilities will allow us to reinforce the growth of the Arrow Group in Portugal and in the territories where it is present”.

João Bugalho, CEO of Whitestar and responsible for Arrow in Portugal, said that "this is an important business for the Arrow Group, and specifically for Whitestar, since Norfin represents a very relevant business complement, increasing asset value management of Whitestar as the market leader in Portugal. This investment shows the importance that the Portuguese market has for the group and for the almost 600 people it employs in the country”.

The group is now waiting for the BdP approval, and expects to have the operation completed later this year.

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