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Five Concentration Operations Approved by Spanish Competition Authority in March

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The Spanish competition authority, CNMC, has authorized five concentration operations in March, including acquisitions by Apollo Global Management and Cerealis.

19.04.2026 | Spanish competition authority


The Comisión Nacional de los Mercados y la Competencia (CNMC) has approved five concentration operations during March. These operations include significant acquisitions by various companies, which were assessed for their impact on market competition.

Apollo Global Management, Inc. has acquired joint control of Tega Industries Limited from the Molycop group. This acquisition does not pose a threat to effective competition as it does not create horizontal or vertical overlaps.

Boyacá S. L. has gained exclusive control over Logista Publicaciones and its subsidiaries. Initially, this operation was found to negatively affect competition in the wholesale distribution of periodicals, but it was authorized with commitments to mitigate these risks.

Cerealis Productos Alimentares, S. A. has acquired exclusive control of Grupo Cerealto by purchasing 100% of Cerealto Pasta Vb3, S. L. U. This concentration is not expected to threaten competition, despite some overlaps.

Gestión Naviera, S. L. has acquired exclusive control of certain assets from the Armas group for the operation of the Algeciras-Tánger route. This operation was initially scrutinized but was ultimately approved without commitments due to minimal impact on market structure.

Lastly, Gestión Naviera, S. L. has also acquired control of assets for the operation of the Península-Canarias route, which raised concerns about potential risks to competition. However, commitments were made to address these issues, leading to approval.

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