Turkey Fines 15 Car Cos. $180M For Price-Fixing

Law360, New York (April 19, 2011, 1:16 PM EDT) -- Turkey's competition regulator on Tuesday fined 15 carmakers and distributors a total of 277.4 million Turkish lira ($180.8 million) for fixing prices and inventories in violation of the country's competition rules.

The Turkish Competition Authority levied its largest fine of 68.8 million lira against Ford Otomotiv San AS, a joint venture between U.S.-based Ford Motor Co. and Turkey's Koc Holding AS.

The regulator also slapped a 47.8 million lira against TOFAS Turkish Automotive Factory Inc., a joint venture between Koc and Italian automaker Fiat SpA. Distributors...
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