P&G, Colgate-Palmolive, Henkel fined combined €361.3M by antitrust regulators in France for price-fixing laundry detergent; Unilever avoids fine, as it was first company to turn in evidence to French regulators
December 8, 2011
– Procter & Gamble Co., Colgate-Palmolive Co. and Henkel AG were fined a combined €361.3 million (US$464 million) by antitrust regulators in France for fixing the price of laundry detergent, Bloomberg reported Dec. 8.
P&G, which manufacturers Ariel detergent, was slapped with the biggest fine – €233.6 million.
Henkel, the German manufacturer of Persil detergent, was fined €92.3M.
Colgate received the smallest fine of €35.4 million for colluding with others to fix prices for detergent between 1997-2004.
Unilever managed to escape paying a fine, as it was the first company to turn in evidence to French regulators.
P&G and Colgate could not be immediately reached for comment, however, Henkel said it plans to appeal on grounds that it cooperated with French investigators.
Henkel said the fine wouldn’t negatively affect its 2012 financial targets or this year’s guidance, Bloomberg reported, citing the company.
The fine is the largest yet imposed by the French competition authority this year and the third largest in the agency’s history, according to the regulator, Bloomberg reported.
The primary source of this article is Bloomberg, London, England, on Dec. 8, 2011.