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Brazil antitrust agency opens formal probe of liquefied petroleum gas distributors

( September 19, 2016, 16:25 GMT | Official Statement) -- MLex Summary: Brazilian antitrust officials have opened a formal probe into several distributors of liquefied petroleum gas in Distrito Federal and some locations in midwestern Brazil, according to a statement disclosed today by the national competition regulator. Five distributors, 31 resellers and 39 individuals are targeted in the probe. The Administrative Council for Economic Defense, or CADE, is also investigating Sindvargas, an association of distributors and resellers of GLP in Distrito Federal, and Sindigás, a national association of distributors of GLP. There is evidence that the defendants restricted competition by fixing prices and dividing markets. Supergasbras Energia agreed to pay more than 7 million reais ($2.14 million) to settle the case with CADE. The settlement was signed before the probe was opened.CADE statement follows in Portuguese....

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