S. Africa Fines Bread Co. $25M For Cartel Role

Law360, New York (February 4, 2010, 4:23 PM EST) -- 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...
To view the full article, register now.