According to Jornal Económico, Rioforte, which owns 59% of Herdade da Comporta Fund, should approve in general assembly at the end of the month the sale for this value to the consortium composed by Vanguard Properties and Amorim Luxury. Novo Banco, which holds 15,5% of UIPs, should accompany Rioforte’s decision.

According to the same newspaper, based on sources close to the operation, these 158 million euro should allow the payment of the debt owed to Caixa Geral de Depositos fund, of around 120 million euro, with the remaining being distributed between the holders of the fund’s UIPs.

The meeting called by Gesfimo is scheduled for the coming 27th November. Novo Banco added recently a new subject to be discussed during the general assembly, to contemplate the potential liquidation of the fund after selling its assets.

According to the consortium’s proposal, Vanguard Properties should become responsible for 88% of Herdade da Comporta’s assets, and Amorim Luxury for 12%, concernig a hotel and other buildings.

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