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Belgium: Regulator dismisses complaint gains De Beers diamonds

By  |  April 14, 2015

The Belgian Competition Authority dismissed on the basis of its enforcement priorities an antitrust complaint filed by Spira, a Belgium-based dealer of rough diamonds, against De Beers UK Limited and Diamdel NV in its capacity as liquidator of Diamond Trading Company “De Beers”, the world’s largest producer of rough diamonds.

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    De Beers sells rough diamonds in lots to its customers. In 2003, De Beers rationalised its distribution system by the introduction of the Supplier of Choice system. The SOC system was approved by the European Commission in 2003 by way of a comfort letter.

    Following the implementation of the SOC system, Spira, who had been acting as a sightholder for De Beers from 1935 to 2003, was no longer allowed to purchase rough diamonds from De Beers. As a result, Spira filed a complaint against De Beers to the European Commission in 2003.

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    On 25 March 2015, the Competition College of the Belgian Competition Authority dismissed Spira’s appeal against the rejection of its complaint against De Beers’ distribution system.

     

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