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Germany: Despite announcement of EC raids, sugar giant expects no action

By  |  May 16, 2013
Germany: Despite announcement of EC raids, sugar giant expects no action

The largest sugar company in Europe has said it expects no punishment or consequence from raids carried out at its offices by the European Commission last April, according to reports. The Germany based Suedzucker has acknowledged that its offices were searched last month after news broke that the Commission probed the market for suspicion of a sugar cartel. According to reports, the EC searched offices after receiving complaints of anticompetitive trading in the white sugar market. A task force has now been set up by the regulator, though Suedzucker implied it has done no wrongdoing as it announced it does not expect consequences from the recent raids.

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