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Brazil Antitrust Authorities Fine Gases Firms for Alleged Cartel Activity

9:24 AM MDT | September 3, 2010 | Vincent Valk

The Brazilian Administrative Council for Economic Defense (CADE; Rio de Janeiro) has fined five industrial gases firms for forming a cartel to limit competition. The firms named by CADE include Air Liquide, Air Products, Linde, and White Martins, Praxair’s Brazilian subsidiary. The fines total R$2.2 billion reals ($1.64 billion.) The largest fine, $1.27 billion, has been imposed on White Martins. Seven executives associated with the companies were also fined. The cartel divided customers between them, and investigators have found evidence detailing how to...

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