German food and beverage company Oetker Group faces a fine of
190 million euros ($263.3 million) for its involvement in fixing
beer prices, Focus magazine reports Sunday.
Germany's Federal Cartel Office will announce the fine at the
end of March, the magazine says without citing sources. Neither
Oetker Group or the cartel office was available for comment
Sunday.
The fine is part of a larger investigation and follows a cartel
office decision in January to hang a fine of EUR106.5 million on
five breweries and seven individuals for participation in price
fixing. The case was first brought to the office's attention by
Anheuser-Busch InBev NV, after an internal review indicated the
company's German unit was involved.
AB InBev was not fined. The price fixing took place between 2006
and 2008, the office said at the time.
According to Focus, the EUR190 million fine on Oetker represents
about 10% of the annual revenue of Radeberger, Oetker's beer
division.
Write to Frankfurt bureau at djnewsfrankfurt@dowjones.com
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