The Competition Commission of South Africa has referred to the Competition Tribunal for confirmation as an order a consent settlement agreement it reached with a construction company, GVK-Siya Zama.
In terms of the agreement, GVK has undertaken an administrative penalty of R6 038 852.00 (US$410,375.46). The company was charged with price fixing, market division, and collusive conduct in the construction industry in contravention of the Competition Act.
In February 2008, GVK entered into an agreement with Group Five to collude in the tender issued by the Mediclinic Group. Group Five provided a cover price, higher than theirs, to GVK to tender for the construction of the Cape-Gate Mediclinic Hospital in Brackenfell, Cape Town.
GVK also entered into a collusive agreement with Neil Muller Construction in July 2010, and tendered for the Tygervalley Shopping Mall. NMC provided a cover price, higher than theirs, to GVK to tender for minor alterations and extensions towards the Tygervalley shopping mall.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Pfizer Settles Remaining Effexor XR Antitrust Claims for $25.5 Million
Apr 29, 2024 by
CPI
South Korean Regulator Approves LG Uplus and Kakao Mobility EV Charging Venture
Apr 29, 2024 by
CPI
Federal Judge Dismisses Doctors’ Antitrust Suit Against Ohio Health System
Apr 29, 2024 by
CPI
Paramount CEO Bob Bakish Steps Down as Merger Inches Closer
Apr 29, 2024 by
CPI
EU Brands Apple’s iPadOS as Gatekeeper in Tech Crackdown
Apr 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI