A PYMNTS Company

South Africa: Settlement agreements finalized by Tribunal

By  |  March 23, 2013

South Africa’s Competition Tribunal has confirmed that two settlements have been reached to end various cases of antitrust violations. The first had the Competition Commission settle with Air Products of South Africa, the latter of which will pay a fine to the nation’s antitrust authorities after the watchdog found it had colluded to fix prices with Sasol Chemical Industries resulting in stunted competition in the industrial gasses sector. In the second, the Tribunal settled with MVA Bricks, which also agreed to pay a fine of 2.5 percent of its affected turnover for the fiscal year ending February 2011. The company admitted it had colluded with Aveng Africa to fix prices of generic paving blocks.

Full Content: Engineering News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.