Brazil: CADE comes down hard on cement firms with fines, forced sales

Brazil’s antitrust regulator CADE cracked down on six major cement firms for alleged price-fixing that occurred over the span of two decades, reports say.

A total of $1.4 billion in fines was imposed onto the companies, which include Holcim and Camargo. Authorities have also ordered the companies to divest significant assets, including installed concrete service capacity in large markets.

The rulings, which some of the companies said they plan to appeal, follow eight years of an antitrust probe into the matter. CADE found that the six firms collectively held about three-quarters of the cement market in Brazil.

Full content: Reuters

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