Law360, New York (February 04, 2010, 4:23 PM ET) -- South African competition regulators have fined Pioneer Foods more than 195 million rand ($25 million) for its alleged participation in a cartel with three other bakeries to fix bread prices in the country.
The Competition Tribunal hit the company — which sells its products under the Sasko and Duens brands — with the record fine on Wednesday and further ordered Pioneer to stop its anti-competitive conduct.
Though the tribunal noted that the fine is the highest penalty it has been entitled to impose to date, the...
S. Africa Fines Bread Co. $25M For Cartel Role
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