Brazil’s antitrust regulator CADE has announced unprecedented fines it plans to impose upon six cement companies for alleged cartel behavior, but according to reports, such a major case for the regulator is likely to drag on for years.
The six companies, which collectively control nearly 90 percent of Brazil’s cement market, are accused of colluding to hike prices after an eight-year probe found cement prices rose 66 percent in the last decade.
CADE is now planning to impose $1.3 billion in fines on the company, as well as required divestitures; if the regulator’s board agrees to the penalties, reports say it will be a landmark crackdown by the authority.
But such a significant case for CADE also comes with the threat of litigation; should the companies engage in a legal battle to fight the fines, report say the case could drag on for years.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Senate Democrats Urge DOJ Investigation into Alleged Big Oil Collusion
May 30, 2024 by
CPI
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI