Law360, New York (June 25, 2010, 1:34 PM ET) -- South Africa's Competition Tribunal has finalized a 13 million rand ($1.7 million) settlement with Masana Petroleum Solutions Pty. Ltd. to resolve allegations of price-fixing in the market for bitumen, a byproduct of oil refining used in making asphalt for roads.
The country's Competition Commission earlier reached the settlement and referred it to the tribunal. The commission has also recommended fines against several major oil companies that it said have participated in the alleged conspiracy, though the tribunal did not rule on those recommendations Wednesday.
The commission...
Masana Settles S. Africa Bitumen Price-Fixing Case
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