Brazilian fuel supplier AleSat Combustíveis has agreed to settle an investigation by the country’s antitrust watchdog with a cease-and-desist order and payment of 48.6 million reais (US$11.3 million).
The case began to be investigated by the extinct Secretariat of Economic Law, which found evidence that the representatives would organize to fix and standardize prices with the objective of increasing profits and eliminating competition. The practices allegedly took place at least between 2006 and 2008.
This is the first agreement between CADE and a distributor in investigations involving anticompetitive conduct in the fuel market. Through the TCC, AleSat recognizes the existence of concerted conduct among distributors, influence of uniform conduct, and exchange of sensitive information in the process.
