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InvestmentsIndia antitrust body fines United Breweries, Carlsberg in price fixing case By...

India antitrust body fines United Breweries, Carlsberg in price fixing case By Reuters

© Reuters. FILE PHOTO: Carlsberg beer cans are seen at a pub in Mumbai, India, October 20, 2018. Picture taken October 20, 2018. REUTERS/Danish Siddiqui/File Photo

By Aditya Kalra and Abhirup Roy

NEW DELHI (Reuters) -India’s antitrust watchdog on Friday imposed a penalty of $102 million on Heineken-controlled beer large United Breweries and $16 million on the native unit of Denmark’s Carlsberg (OTC:) in a case associated to cartelisation of beer costs in the nation.

The order comes after a long-drawn investigation that in 2018 noticed Competition Commission of India (CCI) raiding the places of work of the brewers. The raids occurred after rival Anheuser Busch InBev advised the watchdog it had detected an business cartel in India after it acquired operations of SABMiller (LON:) Plc.

An in depth CCI investigation, reported by Reuters final 12 months, discovered that the businesses collectively strategised in looking for price will increase in a number of states, forging a cartel the CCI investigation unit mentioned gave them extra bargaining energy with state authorities.

In a closing order printed Friday, the CCI introduced penalties of seven.5 billion rupees on United Breweries and 1.2 billion rupees on Carlsberg, after the quantities have been lowered as the businesses cooperated with the investigators.

AB InBev was given a 100% exemption from penalties in the case because it alerted the CCI concerning the cartel, the order added.

The CCI “directs the parties to cease and desist in future from indulging” in such actions, mentioned the watchdog’s 231-page order, which additionally imposed penalties on a number of firm executives it mentioned have been concerned in price fixing on the time.

Carlsberg in an announcement mentioned it was reviewing the CCI order. United Breweries, Heineken (OTC:) and AB InBev didn’t instantly reply.

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