Brazil’s competition authority has fined six cement companies and is compelling them to divest some of their assets over alleged collusion that drove up pricing. The Administrative Council for Economic Defence’s (CADE) decision imposes fines totalling 3.1bn reals ($1.4bn) and requires companies with more than one concrete plant in a given region to divest 20pc of their concrete production capacity in that region. The companies will not be allowed to get financing from Brazilian banks until they divest those assets.
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