Brussels approves the purchase of two Lopesan hotels in the Canary Islands by the US fund Apollo

The European Commission gave the green light on Tuesday to the purchase of two hotels in Gran Canaria by the Lopesan group, 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 economic space European nor in a substantial part of it.

The community executive has concluded that the operation does not pose competition problems because its impact on the tourism market is limited, as the institution summarizes in a statement.

The operation involves two four and five star hotel centers located in San Bartolomé de Tirajana (Gran Canaria) and which, in addition to accommodation, has facilities for holding conferences, a bar and a restaurant.

The file, which was notified to Brussels on March 6, has been examined under the simplified procedure that applies to the least problematic cases.