Brazil: CADE suspends investigation against companies that admitted to cartel in Petrobras tenders
The Administrative Council of Economic Defense (CADE) of Brazil has suspended an investigation into an alleged cartel active in tenders for oil company Petrobras, involving the companies OAS, Carioca Engenharia, and Odebrecht, after receiving documents by these companies where “they recognize their participation and offer evidence that corroborates the conduct being investigated.”
The CADE process, which would analyze the existence of a cartel in the on-shore industrial engineering, construction and assembly services market for participation in Petrobras tenders, also involves several other companies, which will have the opportunity to confess their participation before the end of the instruction process.
CADE reported last November regarding the allocation of fines to companies, agreeing payments with OAS for R$ 124.7 million (approximately US$33 million), with Carioca Engenharia for R$54.16 million (US$14 million), and with Odebrecht for R$338.9 million (US$90 million).
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Pfizer Settles Remaining Effexor XR Antitrust Claims for $25.5 Million
Apr 29, 2024 by
CPI
South Korean Regulator Approves LG Uplus and Kakao Mobility EV Charging Venture
Apr 29, 2024 by
CPI
Federal Judge Dismisses Doctors’ Antitrust Suit Against Ohio Health System
Apr 29, 2024 by
CPI
Paramount CEO Bob Bakish Steps Down as Merger Inches Closer
Apr 29, 2024 by
CPI
EU Brands Apple’s iPadOS as Gatekeeper in Tech Crackdown
Apr 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI