Sasol to Pay 112 Million Rand Antitrust Settlement
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Sasol Ltd., the largest producer of motor fuels made from coal, agreed to pay 112 million rand ($16.4 million) to settle an antitrust case after agreeing that it “indirectly” fixed polypropylene prices in South Africa.
The penalty is 3 percent of the Johannesburg-based company’s 2009 turnover derived from polypropylene products, the Competition Commission said in a statement today. Sasol’s contravention was of a “technical” nature and there was no “intentional agreement to fix prices,” the company said in a separate statement.