Davidson Kempner Capital Management has won the race to buy a portfolio of Portuguese hotels.
Private equity firm ECS launched the sale of the assets held by a number of Portuguese banks, in early 2021.
In a regulatory filing, one of the banks, Novo Banco, revealed that it would receive €224 million as part of the deal. The other two banks involved, Banco Comercial Português and Caixa, did not say how much they would receive.