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CADE enters into a TCC with chocolate manufacturer's association

Por :

20/08/2013 21:00 Demarest News

 

In 2009, the Brazilian antitrust authorities opened an administrative process to investigate infringements to the economic order allegedly performed by Associação Brasileira da Indústria de Chocolates, Cacau, Amendoim, Balas e Derivados - ABICAB. 

The anticompetitive conduct consisted on revealing relevant market data prior to Easter holidays, such as price raise, production costs, levels, date and percentage for future price adjustments.

After a long period of investigations and debates, in the judgment session held on July 3rd, 2013, a Cease and Desist Agreement - TCC was signed between the Administrative Council for Economic Defense - CADE and ABICAB. According to the terms of the TCC, ABICAB committed to refrain from sharing confidential and market sensitive information. 

The Reporting Commissioner of the case, Mr. Ricardo Machado Ruiz, stated that the fact that the Association proved the conduct has ceased was an important factor to the calculation of the pecuniary contribution, which was settled in R$ 96.000,00 (ninety six thousand Reais).


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