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M&A

Klépierre Walks the Aqua Portimão Joint-Venture Buyout Across the 7 May Trading Update — Generali Immobiliare's 50% Stake Lands With the French Mall Operator for €59 Million, and the Western-Algarve Anchor Moves to Full Klépierre Ownership

Klépierre Walks the Aqua Portimão Joint-Venture Buyout Across the 7 May Trading Update — Generali Immobiliare's 50% Stake Lands With the French Mall Operator for €59 Million, and the Western-Algarve Anchor Moves to Full Klépierre Ownership

The French shopping-centre operator Klépierre has confirmed that on 16 April 2026 it acquired the remaining 50% stake in Aqua Portimão — the dominant retail anchor of the western Algarve — from joint-venture partner Generali Immobiliare for a total...
The Portugal Brief
Grupo José de Mello Now Carries More Than 50 Shareholders Eight Years After Tearing Up the Family Protocol — Sixth Generation Already at 80, Salvador de Mello CEO at 5.56%, and the €330M Ercros Takeover Lands as the Largest Print Since Brisa

Grupo José de Mello Now Carries More Than 50 Shareholders Eight Years After Tearing Up the Family Protocol — Sixth Generation Already at 80, Salvador de Mello CEO at 5.56%, and the €330M Ercros Takeover Lands as the Largest Print Since Brisa

Eight years after the fourth-generation siblings tore up the José de Mello family protocol, Grupo Mello carries 50+ shareholders across six generations — about 80 in the sixth — and closes its largest M&A print since Brisa with the €330M Ercros takeover. Salvador de Mello runs the group at 5.56%.
The Portugal Brief
AdC Opens an Article-41 In-Depth Investigation Into the Better Foods–Cerealis Milling Concentration — Nacional, Milaneza and Napolitana Would Land Inside Portugal's Largest Miller Alongside Ceres, Germen, Granel and Carneiro Campos

AdC Opens an Article-41 In-Depth Investigation Into the Better Foods–Cerealis Milling Concentration — Nacional, Milaneza and Napolitana Would Land Inside Portugal's Largest Miller Alongside Ceres, Germen, Granel and Carneiro Campos

The Autoridade da Concorrência on 29 April 2026 escalated the Better Foods–Cerealis Moagens deal to an in-depth Article-41 investigation, citing 'sérias dúvidas' across most relevant markets. The merger would put Nacional, Milaneza and Napolitana inside Portugal's largest miller.
The Portugal Brief
'Rei dos Frangos' Books a €40 Million Capital Gain on a 9-Year Benfica SAD Bet — €45.2 Million Sale of 16.38% to a Delaware Vehicle Linked to Oak View Group and Acrisure Pushes American Capital Past 21% of the Reds' SAD

'Rei dos Frangos' Books a €40 Million Capital Gain on a 9-Year Benfica SAD Bet — €45.2 Million Sale of 16.38% to a Delaware Vehicle Linked to Oak View Group and Acrisure Pushes American Capital Past 21% of the Reds' SAD

José António dos Santos and Grupo Valouro sell 16.38% of Benfica SAD for €45.2 million to a Delaware SPV linked to Oak View Group and Acrisure executives — a €40 million capital gain over nine years that pushes combined US-fund ownership of Benfica past 21% on the July transfer.
The Portugal Brief
BA Glass Closes Its First North African Deal — Vila Nova de Gaia Group Takes 41% of Tunisia's Sotuver Through Its Dutch Holding, Adding a 650-Worker Plant Outside Tunis to a 13-Factory European-and-Mexican Footprint

BA Glass Closes Its First North African Deal — Vila Nova de Gaia Group Takes 41% of Tunisia's Sotuver Through Its Dutch Holding, Adding a 650-Worker Plant Outside Tunis to a 13-Factory European-and-Mexican Footprint

Vila Nova de Gaia's BA Glass has closed its first North African deal — 41% of Tunisia's Sotuver via Dutch holding BA Glass B.V. Tunis CMF cleared the transfer on 2 April, after Commerce Ministry approval 4 March. The 650-worker Khelidia plant joins a 13-factory €1.5bn footprint.
The Portugal Brief