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Freedom Apex merger penalty welcomed by Papua New Guinea's competition watchdog

( July 31, 2025, 01:26 GMT | Official Statement) -- MLex Summary: Papua New Guinea’s competition watchdog has welcomed a court decision to impose a penalty of K750,000 ($181,500) on local retail and wholesale business Freedom Apex over its failure to seek prior clearance before entering into a business transaction to acquire leases and goods of Dae Won Trading in 2021. In a statement, the Independent Consumer & Competition Commission said its probe had established the business-transaction value exceeded the mandatory notification threshold of K50 million and Freedom Apex had failed to comply with the relevant notification law. In his decision, Waigani National Court Judge Thomas Anis ordered Freedom Apex to pay the default penalty to the ICCC, which was the plaintiff in the court action.The full statement from Papua New Guinea's Independent Consumer and Competition Commission follows: ...

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