On August 26, 2026, the Board of Directors of the Portuguese competition authority, known as AdC, made a significant decision regarding the merger between PGCF*FSI and Grupo Retail.

Exercising its powers under the relevant competition statutes, the authority adopted a non-opposition decision. This means that the merger is not expected to create significant obstacles to effective competition within the national market or in a substantial part of it.

The decision reflects the authority's assessment that the merger will not adversely affect market dynamics, allowing the companies to proceed with their concentration operation without further regulatory hurdles.