for subscribers

Unilever to be charged for cartel activity

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Johannesburg - The Competition Commission wants Unilever to pay a fine of 10% of its annual turnover in a cartel case.

The Commission wants the Competition Tribunal to prosecute a cartel case against Unilever SA and Sime Darby Hudson Knight, it announced on Wednesday.

The Commission is seeking an order from the Tribunal declaring that Unilever and Sime Darby contravened Section 4(1)(b)(ii) of the Competition Act as well as an order declaring Unilever liable for payment of an administrative penalty equal to 10% of its annual turnover.
 
This follows an investigation by the Commission, which found that Unilever and Sime Darby divided markets by allocating specific types of products and customers goods in the market for the manufacturing and supply of bakery and cooking products throughout South Africa. This conduct contravenes the Competition Act.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.04
(-0.38)
ZAR/GBP
21.81
(-0.11)
ZAR/EUR
19.90
(-0.12)
ZAR/AUD
12.03
(-0.12)
ZAR/JPY
0.16
(-1.12)
Gold
1860.65
(+0.03)
Silver
22.87
(+0.11)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1365 votes
It depends on how the funds are used.
73% - 8845 votes
No. We should have gotten the loan elsewhere.
16% - 1954 votes
Vote