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South Africa: S. Africa’s I&J May Face Prosecution for Karan Beef Collusion

 |  October 30, 2018

South Africa’s Competition Commission has referred beef-processing companies Irvin & Johnson (I&J) and Karan Beef to the Competition Tribunal for prosecution over cartel conduct.

The two companies have been charged with dividing markets in the supply of processed beef products, the market regulator said in a statement on its website. Karan Beef admitted guilt and paid an administrative penalty of 2.7 million rand (US$184,400), the commission said. It is seeking a penalty of 10% of I&J’s annual turnover.

Karan Beef’s fine was unlikely to affect its multibillion-rand empowerment transaction with the Public Investment Corp., Business Day reported, citing commission Acting Chief of Staff David Maimela.

Full Content: Bloomberg

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