ArcelorMittal to Pay South Africa’s Biggest Antitrust Fine
- Antitrust body caps AMSA’s Ebit margin on long-steel products
- Payments will start in 2017; no interest levied for 18 months
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ArcelorMittal South Africa Ltd. will pay a record penalty for anti-competitive behavior in the country after admitting to being involved in cartels in long steel and scrap metal.
The continent’s biggest steel producer will pay a 1.5 billion rand ($110 million) fine in installments of at least 300 million rand annually over five years starting in 2017, the company and Competition Commission said in statements Monday.