The antitrust investigation into Alcogroup’s alleged involvement in an ethanol cartel was closed by the European Commission on Tuesday.
Alcogroup and Agroetanol, companies based in Sweden, were accused by EU antitrust regulators in the previous year of involvement in a bioethanol cartel that manipulated benchmark prices.
The EU competition enforcer fined two companies and Spain’s Abengoa ABG.MC 20 million euros for illegal price formation, after they were found to have breached EU antitrust rules.
The investigation into Alcogroup, however, yielded insufficient evidence to pursue it further, the commission said. The probe regarding Agroethanol is ongoing.