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EU: More companies hit by dawn raids in ethanol probe

 |  October 16, 2014

The European Commission searched the offices of Belgium-based ethanol producer Alcogroup and Sweden-based Lantmannen Agroetanol as part of an investigation into price-fixing.

Reports say the Commission announced the searches last week but only recently confirmed which companies were raided as part of the probe. The searches followed searches of Shell, BP and Statoil last year.

Since, the Commission has conducted more raids into allegations of gas benchmark-rigging and other price-fixing claims in the gas and ethanol industry. In a statement, the Commission said Alcogroup and its subsidiaries may have colluded to manipulate prices submitted to Platts, which publishes oil prices.

Full content: Reuters

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