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Germany: Sugar cartel issued sour fine

 |  February 18, 2014

German competition authorities announced a fine on three sugar producers for forming a cartel, say reports

Germany’s federal cartel office lodged a fine totaling about $384 million against Pfeifer & Langen, Suedzucker, and Nordzucker after the regulator found the companies had colluded to divide markets and restrict sales, say reports. The authority found that the companies had pursued the highest possible prices of sugar.

Suedzucker released a statement announcing its acceptance of the fine; the other two companies had not yet commented.

Full Content: Wall Street Journal

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