Anti-competitive: Aveng to pay R46,3-million penalty

2009-02-16 00:00

Johannesburg — JSE-listed construction company Aveng Group will pay a penalty of R46,3 million to the Competition Commission following an investigation into anti-competitive behaviour at its Infraset business unit.

The administrative penalty, paid as part of a consent agreement, amounts to eight percent of Infraset’s turnover (excluding revenue from its paving products) in financial 2007. This amount will be paid to the commission in three equal annual payments.

The group has suspended two executives implicated in the investigation pending an internal probe into any misconduct.

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