1 minute read
5 Nov 2014
6:41 pm

Tribunal confirms fish settlement deal

Saldanha Foods will pay a fine of more than R4 million for being involved in the price fixing of pilchards and anchovies, the Competition Tribunal said on Wednesday.

Picture: Thinkstock

The tribunal confirmed the settlement agreement with the company relating to the price fixing and market allocation of pelagic fish.

Saldanha Foods (Pty) Ltd admitted it contravened the Competition Act when it agreed, as a member of the SA Pelagic Fish Processors Association, to fix prices paid to vessel owners or operators, skippers and crew for the service of catching pelagic fish.

This took place between the mid 1990s and 2010. Saldanha Foods agreed, among other things, to pay a penalty of R4,063,750 for its involvement.

Oceana Brands Limited and Premier Fishing SA previously paid penalties of R34.7m and R2.1m respectively.

Pelagic fish live in a zone in the ocean neither close to its shore nor the bottom.

The tribunal also approved three mergers on Wednesday.

The first involved MTN’s acquisition of a 51 percent stake in Afrihost Proprietary Limited (Afrihost), an internet service provider.

The second involved property firm Fortress Income Two, which intended to purchase an interest in Weskus Mall, in Vredenburg, Western Cap; and the third between Fraser Alexander (Pty) Ltd and Close-up Mining (Pty) Ltd.