A PYMNTS Company

Peru: INDECOPI fines 63 gas companies for collusion

 |  January 22, 2019

The National Institute for the Defense of Competition (Indecopi) of Peru will issue fines on 63 companies that operate in the market for the sale of vehicular natural gas in Lima and Callao for allegedly undertaking agreements to fix prices for this fuel. Also involved are 33 individuals, including 29 managers involved in the collusion of NVG prices.

Indecopi has said that these behaviors occurred between 2011 and 2015 through a clandestine agreement, supported by electronic communications, found during the investigation. The total amount of the fine for all companies could amount to S /473 million (US$142 million).

The supply chain Primark, among those accused of involvement in the conspiracy, denied its participation and announced that it would appeal the decision of the regulatory body.

“During the investigation, we have presented multiple evidence to support that neither our companies nor the officials included in the process have participated in acts that attempt against free competition. A rigorous analysis of the file shows that there is no evidence to prove the Group’s participation. Primax “, declared the company in a document sent to the authority.

Full Content: La República

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.