Amorim signs promissory agreement to buy Herdade da Comporta

  • ECO News
  • 25 October 2018

Amorim/Vanguard consortium has signed a promissory agreement to buy Herdade da Comporta's estate, Gesfimo said in an official press release sent to news agency Lusa this Thursday.

Gesfimo, which manages the Herdade da Comporta estate, has signed a promissory agreement to sell the property to the Amorim/Vanguard consortium, it said in a communiqué sent to Lusa on Thursday.

The Amorim/Vanguard Consortium was the only entity to make an offer for the Comporta estate.

The sale of Herdade da Comporta, which belonged to the former Grupo Espírito Santo (GES), was a complicated process.

A previous call for bids in July saw a competing bid being rejected by the joint votes of creditors Novo Banco and Rioforte.

The decision to sell Herdade da Comporta, which is near Alcácer do Sal and Grândola, south of Lisbon, came three years ago following the collapse of GES and Banco Espirito Santo (BES).