Abengoa Bioethanol Arm Raided in EU Manipulation Probe
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Abengoa SA, owner of continental Europe’s biggest bioethanol plant, said that it’s being investigated as part of the European Union’s antitrust probe into possible manipulation of oil and biofuel prices.
The company and its Rotterdam-based Abengoa Bioenergy Trading Europe unit were inspected over possible collusion to manipulate the Platts market-on-close process and exclude companies from the way prices are assessed, Abengoa said in a U.S. regulatory filing dated Oct. 4.