Statement from the Competition Council regarding the economic concentration project concerning the joint control acquisition of the company “Caiba SA” after its merger with the company “Nosoplas SLU”, by the companies “Portobello Capital Gestión SGEIC SA”, “Cobega SA” and “Sonab SL”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the following “operation summary” containing information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this statement does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented.

Names of the companies and groups involved:

• The acquirers:
• the company “Portobello Capital Gestión SGEIC SA”;
• the company “Cobega SA”;
• the company “Sonab SL”.
• The target companies:
• the company “Caiba SA”;
• the company “Nosoplas SLU”.

Nature of the operation

• Merger by absorption
• Joint control acquisition

Economic sectors concerned

• The market for the supply of polyethylene terephthalate (PET) preforms;
• The market for the manufacture and commercialization of polyethylene terephthalate (PET) packaging;
• The market for bottling and distribution of non-alcoholic beverages.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this statement, i.e. July 27, 2026.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration project consisting of the joint control acquisition of the company “Caiba SA” after its merger with the company “Nosoplas SLU” by the companies “Portobello Capital Gestión SGEIC SA”, “Cobega SA” and “Sonab SL”.

“Portobello Capital Gestión SGEIC SA” is a Spanish public limited company specializing in investment fund management. Through the funds it manages, it holds stakes in several companies operating in various industrial and service sectors. In Morocco, the group is notably present through the activities of “Caiba”, engaged in the manufacture and commercialization of PET preforms and packaging.

“Cobega SA” is a Spanish public limited company and the parent company of the Cobega group, mainly active in bottling and distributing non-alcoholic beverages as well as in various industrial activities. The group notably controls “Nosoplas SLU”, specialized in the production of recycled PET resins and PET preforms. In Morocco, the group is involved in bottling and distributing non-alcoholic beverages.

“Sonab SL” is a Spanish limited liability company, a holding company primarily engaged in real estate leasing as well as in the administration and management of investments and other securities.

“Caiba SA” is a Spanish public limited company specializing in the manufacture and commercialization of PET preforms and packaging. Its products are mainly marketed in Europe and Morocco.

“Nosoplas SLU” is a Spanish limited liability company specializing in the production of recycled PET resins and PET preforms primarily for the water and soft drink sector. Its activities are mainly carried out in Spain and other member states of the European Economic Area.

 

Done in Rabat on July 16, 2026