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EU: Sugar probe cut short with little evidence

By  |  February 20, 2014

The European Commission has decided to close an investigation into the sugar market for allegations of price-fixing, citing a lack of evidence despite fines having been issued to some sugar manufacturers by German regulators.

In a statement released Wednesday, the Commission said sufficient evidence for price-fixing in the industry was not found during dawn raids at offices of Suedzucker and Nordsuzker, carried out last year.

The two companies, along with Pfeifer & Langen, were issued fines by Germany’s competition authority just a day prior to the Commission’s announcement; Germany said regulators found evidence of market collusion.

While the Commission has decided to close its probe, the regulator noted that it “does not exclude that it may re-investigate the sugar sector at a later state on the basis of new elements.”

Full Content: Businessweek

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