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South Africa: Commission settles with Foodcorp over price-fixing ‘embarrassment’

 |  December 12, 2012

Food producer New Foodcorp Holdings has apparently reached a settlement with antitrust authorities over allegations that the company fixed gain product pries between 1999 and 2007; the company is to pay $10 million for the acts. According to Foodcorp, the fine will be paid in installments over the next three years. Foodcorp CEO Justin Williamson said in a statement that the case was a source of “great embarrassment” for the company.

Full Content: Bloomberg

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