Brazil’s antitrust authorities have launched an investigation on 11 companies in the liquified natural gas (LPG) sector, which the regulator has accused of conspiring to fix prices of this fuel and to divide their customer base among the country’s northeast states. The agency has said the companies have exchanged important information and set restrictions on their distributors in order to “promote an artificial market regulation and to ease the functioning of various alleged cartels.”
Among the companies under investigation are Liquigás Distribuidora, owned by oil giant Petrobras; along with Cia Ultragaz SA, part of PUltrapar Participações. Petrobras launched a process to begin the sale of Liquigás earlier this year.
The investigation is part of authorities’ effort to combat corruption in Brazil’s institutions. This wave is personified by the scandals, involving bribery and contract bidding manipulation between state firms and several engineering companies, and which helped to bring about a political trial against president Dilma Rousseff.
Full Content: Mercopress
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
European Music Streaming Firms Rally Against Apple’s Proposed Remedies
May 9, 2024 by
CPI
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI