Carlyle Group (CG) is closing in on a deal to sell the Penha Longa Resort & Hotel in Sintra, Portugal, Bloomberg News reported Thursday, citing people familiar with the matter.

The private equity giant is in discussions with L Catterton, an investment vehicle backed by French luxury conglomerate LVMH, in partnership with Cedar Capital Partners, the unnamed sources told the news outlet.

Carlyle didn't immediately respond to MT Newswires' request for comment.

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