In a note on its website, AdC president, Nuno Cunha Rodrigues indicates that its Board of Directors decided to “adopt a decision not to oppose the merger,” stating that “it is not likely to create significant barriers to effective competition in the national market or in a substantial part thereof.”

On 22 May, the Bel group had notified the AdC of a merger of companies, which consisted of “the acquisition by Grupo Bel, S.A. through Vales e Cordilheiras, Unipessoal, Lda, of exclusive control over the set of assets that make up the Central Cash business”.

The AdC noted that the Bel Group, led by Marco Galinha, is “mainly active in the areas of logistics, research, development and technology, automation, the aeronautical and aerospace industry, the metalworking industry, communication and media, sustainable energy and mobility solutions, and real estate.”

Central Cash, on the other hand, is a “set of assets owned by Palmelalimentar – Armazenistas de Produtos Alimentares, S.A.” which are “used to develop its distribution and wholesale ('cash and carry') business of food, hygiene and cleaning products in Portugal.”