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South Africa: S. Africa’s I&J May Face Prosecution for Karan Beef Collusion

By  |  October 30, 2018

South Africa’s Competition Commission has referred beef-processing companies Irvin & Johnson (I&J) and Karan Beef to the Competition Tribunal for prosecution over cartel conduct.

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    The two companies have been charged with dividing markets in the supply of processed beef products, the market regulator said in a statement on its website. Karan Beef admitted guilt and paid an administrative penalty of 2.7 million rand (US$184,400), the commission said. It is seeking a penalty of 10% of I&J’s annual turnover.

    Karan Beef’s fine was unlikely to affect its multibillion-rand empowerment transaction with the Public Investment Corp., Business Day reported, citing commission Acting Chief of Staff David Maimela.

    Full Content: Bloomberg

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