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Brazil: Watchdog fines LPG over price-fixing

 |  September 7, 2017

Brazil’s antitrust watchdog Cade has signed agreements with the largest petroleum gas distributors to settle charges that the companies formed a cartel and colluded to fix prices in the Northeastern and Center-West regions of the country.

Liquigas Distribuidora, a subsidiary of state-controlled oil company Petroleo Brasileiro, agreed to pay R$65 million (US$21 million) in fines and committed to end the cartel practices.

In the Center-West region case, rival Companhia Ultragaz, owned by Ultrapar Participações SA will pay a R$2 million fine (US$645,134).

Last month, Cade blocked the tie-up between the two rival firms fined on Wednesday, September 6. Ultrapar Participações had agreed last year to acquire Liquigas for R$2.8 billion (US$903.2 million).

Full Content: Valor

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