Cement News tagged under: Cade
Votorantim faces civil action from Federal Prosecutors’ Office29 October 2021, Published under Cement NewsVotorantim Cimentos SA, has stated that it became aware, through the media, of a public civil action filed by the Federal Prosecutors’ Office of São Paulo (MPF-SP) related to the decision issued by the Brazilian Administrative Council for Economic Defense (CADE) for alleged anticompetitive practices in the scope of the administrative proceeding that was closed in October 2015. In this public civil action, MPF-SP would require the conviction of entities and cement companies, includin... |
Brazilian Companhia Nacional de Cimento completes the purchase of CRH Brasil assets19 April 2021, Published under Cement NewsThe Brazilian antitrust authority, CADE, in accordance to the agreement disclosed on 26 October 2020, has confirmed Brazilian Companhia Nacional de Cimento’s (CNC) purchase of all the businesses of the CRH group operating in Brazil (CRH Brasil and its subsidiaries). CNC is a wholly-owned subsidiary of BCPAR, holding company in which Buzzi Unicem owns 50 per cent of the share capital in a joint venture with Grupo Ricardo Brennand. The consideration paid takes into account the price originall... |
Brazil: Cade issues fines of US$934m30 July 2015, Published under Cement NewsBrazil's antitrust watchdog, Cade, has ordered six cement makers named in a price-rigging case to pay a combined BRL3.1bn (US$934m) in fines within a month in a landmark decision that also orders asset disposals. Under terms of the ruling, Votorantim must pay BRL1.5bn in fines and Cimpor BRL297m. Cade fined Intercement Brasil BRL241m and Itabira BRL411m. Holcim's fine amounts to BRL508m and Itambé is required to pay BRL88m. The decision announced on Wednesday gives the companies a one-y... |
Lafarge & Holcim propose Brazilian divestments05 August 2014, Published under Cement NewsLafarge and Holcim have published a list of proposed asset disposals to Brazilian Competition authority CADE, as part of efforts to help win regulatory approval for their planned merger. The joint Divestment Committee has agreed to propose a package of assets from both Holcim and Lafarge which include three integrated cement plants and two grinding units (with a total cement capacity of 3.6Mta) as well as one ready-mix plant, all located in the southeastern region of Brazil. The proposed... |
Brazil’s CADE fines six cement companies US$1.4bn for price-fixing29 May 2014, Published under Cement NewsBrazil’s antimonopoly authority CAD has fined six cement companies a total fine of BRL3.1bn (US$1.4bn) for fixing market prices. Votorantim Cimentos SA , Camargo Correa-owned Intercement Brasil, ITAB Agro Industrial SA and Cia Cements Itambé SA, Holcim and Cimpor agreed to fix prices to eliminate market competitors, said CADE in a10-hour hearing. Votorantim has been ordered to pay BRL1.5bn, Holcim BRL508m, Itabira BRL411m, Cimpor BRL297m and Intercement Brasil BRL241m. CADE has also ... |
Cade likely to impose fine on Brazil producers24 January 2014, Published under Cement NewsBrazil's antitrust watchdog Cade is likely to impose fines totalling BRL3.1bn (US$1.3bn) on six cement producers for alleged market collusion. Late Wednesday, four of five members of the board of Brazil's Administrative Council for Economic Defense, or Cade, voted for the penalties, while the remaining member requested a review of the process. Under the regulator's rules, during the review period Cade members can change their votes. Cade didn't offer a timetable for a final decision. Ac... |
Cimpor acquisition good for competition06 April 2012, Published under Cement NewsThe buyout of Cimpor, Portugal, by Camargo Corrêa of Brazil would improve competition by reducing the market share of dominant player, Grupo Votorantim, according to Brazil’s antitrust regulator. "In principal, I can say that would be better than Votorantim concentrating even more of the market. But I can't say that solution is enough," said Olavo Chinaglia, the head of the Brazilian antitrust agency Cade, reported Reuters. Camargo Corrêa, the country’s second-largest construction grou... |
Page
1
of
1
1