On December 17, 2025, the Board of Directors of AdC, exercising the powers conferred upon it by subparagraph d) of paragraph 1 of Article 19 of the Statutes, approved by Decree-Law No. 125/2014, of August 18, declared the procedure corresponding to the analysis of the Ccent. operation No. 66/2025 – Luz Saúde*C2 Capital Partners/GHB to be terminated, pursuant to Articles 46 of the Competition Law and 95 of the Administrative Procedure Code, on the assumption that the notified concentration operation will not be carried out.

Portuguese Competition Authority Closes Merger Review for Luz Saúde and C2 Capital Partners

The Portuguese competition authority, known as AdC, has announced the termination of the merger proceedings for operation 66/2025, which involved Luz Saúde and C2 Capital Partners in conjunction with GHB.

 On December 17, 2025, the Board of Directors of AdC exercised its powers under the relevant statutes to declare that the analysis of the merger would be concluded. This decision was made in accordance with Articles 46 of the Competition Law and 95 of the Administrative Procedure Code.

 AdC's termination of the proceedings indicates that the notified concentration operation will not be carried out, effectively closing the case without further investigation or remedies.



Portuguese Competition Authority Closes Merger Review for Luz Saúde and C2 Capital Partners

The Portuguese competition authority, AdC, has officially terminated the merger proceedings for the operation involving Luz Saúde and C2 Capital Partners, indicating that the merger will not proceed.