Yesterday Tuesday 14 April the European Commission has given the green light for the acquisition of two hotels in the South of Gran Canaria by the Canarian Hotel Group Lopesan and the US company Apollo Capital Management. The hotels are the Hotel Faro in Maspalomas and the Hotel Buenaventura in Playa del Inglés, two of the main tourist areas of Gran Canaria.
As we already know Lopesan along with their German partners IFA own 50% of the Anfi Group, although they do not have control of the Board of Directors which is the “Golden Share” in the control of Hermanos Santana Cazorla SL. But with the legal battles, the Cazorla Group are currently going through it is only a matter of time before full control may revert to IFA/Lopesan.
Inside Timeshare published this news which was announced on Info Canarias, both articles can be found on the links below.
Apollo Global Management was founded in 1990 by Leon Black, he was a former banker with Drexel Burnham Lambert. Drexel had closed earlier that year after a securities scandal which resulted in the bank having to pay $650 million in fines. Being unable to repay a $100 million debt it collapsed.
According to the online financial journal The Street, Bloomberg had called Drexel Burnham Lambert “Renegades of Junk”, due to its involvement in the junk bond market. Irene Parker, a writer for The Street and a Diamond timeshare owner herself, believes that this title is more fitting for Apollo Global Management after its acquisition of Diamond Resorts. (follow links below).
Original Inside Timeshare article
Links to independent reviews on Apollo
So what could this mean for Anfi?
At present, there is no indication of how this will affect Anfi and their members, even though we do know that IFA/Lopesan are very interested in taking full control of the Anfi Group. With the legal problems and the possible liquidation of the Cazorla Group, a full takeover is definitely on the cards.
This now leaves the question of what are the intentions of Apollo Global Management, with the deal made with Lopesan on these two hotels could this mean that Apollo may just have an influence on Anfi?
Only time will tell, as and when further information comes to light, Inside Timeshare will publish it here.
Inside Timeshare has just received information on a new “Scam” which timeshare owners are being subjected to, this one is supposedly from the Banco de España and a “court case” in the Malaga Courts against a number of companies.
According to the information received, substantial sums of money have been seized and is waiting to be claimed by the clients who paid them in the past.
Past Clients of these “companies” are now being contacted to inform them that they have been awarded the money by the courts and it is the Banco de España who is dealing with it all. Obviously there is a “tax” to pay to have the money released, haven’t we heard this one before?
It is an obvious “SCAM” and is evident by the email address which is being used to send “clients” the information:
This is a free Gmail account and is not an official Banco de España email address, just ask yourself the question, why would a national bank use a free Gmail account?
A full article will be published on this in the next couple of days, but in the meantime, if any other readers receive any phone calls or emails with regards to this, please contact Inside Timeshare using our contact page.