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Brazil: CADE raids Canadian auto parts firm

 |  September 21, 2014

Canada’s Magna International confirmed Friday that its unit in Brazil was searched by competition authorities as part of an investigation.

According to reports, the car parts supplier’s office was raided by CADE, though Magna declined to elaborate further on the searches or possible reasoning for the investigation. The company did say, however, that it would fully cooperate with CADE.

Brazil’s antitrust authority was not reported to have comment on the matter, either.

Full content: Reuters

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