S. African Watchdog Hits Foodcorp With $10M Cartel Fine

Law360, New York (December 13, 2012, 4:21 PM EST) -- South Africa's competition watchdog announced Thursday that Foodcorp Pty. Ltd. would pay 88.5 million rand ($10.2 million) to settle allegations that the food company took part in separate price-fixing cartels for wheal flour and corn meal.

The Competition Commission said Foodcorp had admitted to breaching the country's competition laws between 1999 and 2007 by meeting with competitors like Pioneer Food Group Ltd. and Premier Foods Pty. Ltd. to fix selling prices and coordinate price increases.

“Through these price-fixing arrangements, Foodcorp and its competitors prevented and/or limited...
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