CADE settles in cartel investigation in the salt market
Cease and Desist Agreement
The Administrative Council for Economic Defense – CADE signed, on 26 November 2014, a Cease and Desist Agreement (TCC for its acronym in Portuguese) with Salina Diamante Branco Ltda and an individual related to the company in a proceeding that investigates the cartel formation in the national salt market.
The alleged cartel began to be investigated in 2008 by the former Secretariat of Economic Law (SDE for its acronym in Portuguese) and the Administrative Proceeding no. 08012.005882/2008-38 was opened by CADE’s General Superintendence.
According to the TCC signed with CADE, the company and individual must collect BRL 5.5 million in total as pecuniary contribution. The parties also committed to cease the conduct and to collaborate with the agency in regards to the clarification of the facts. They must also admit their participation in the investigated practice.
The settlement was proposed by the parties and negotiated by the General Superintendence.
To CADE’s President, Vinicius Marques de Carvalho, the agreement fills the legal requirements and meets convenience and opportunity criteria that justify its signature.
“The proposed collaboration is relevant and satisfactory to the on-going investigations in CADE. The pecuniary contribution to be collected has a sufficient relevance to assure deterrence of future similar practices”, he stated.