PANAMA: Nestle waits to hear on anti-trust probe
Nestle told just-food this morning (3 April) that it is waiting to hear if it is being investigated by the Panamian government over accusations of price fixing.
According to a statement released by Panama's Consumer Protection Authority (ACODECO), the regulator is probing Nestle and three local food companies.
The watchdog said it has launched a probe due to "suspected monopolistic practices, consistent with the exchange of information and fixing and imposing prices for the purchase of wholesale milk from producers".
However, ACODECO has not yet contacted Nestle, the Swiss food giant said.
"We have not been contacted by the authorities in Panama," a Nestle spokesperson said. "If we are contacted this could lead to an investigation, but without more information on what the accusations are it is hard to comment further."
If found guilty, each company could face a fine of up to US$1m.
Obesity and alcohol abuse are deemed as two of the biggest ills facing UK society and the food and drink industries find themselves in the firing line from government and the media. However, this week...
Nestlé executive Paul Polman's surprise move to Unilever has won warm praise from industry watchers, with many believing the Dutchman has what it takes to lead the company successfully in the years ah...
The fall-out from the melamine scandal in China rumbled on this week, with claims that Sanlu Group, the Chinese dairy at the heart of the scare tried to cover up the outbreak when it first emerged....
Heinz has recalled a batch of baby food from Hong Kong due to traces of melamine found in the product....
Nestle and Hershey today (23 September) stayed silent over rumours of a possible tie-up - while analysts cast doubt on whether a deal would emerge....
Shares in US confectionery giant Hershey closed more than 4% up in New York yesterday (22 September) amid rumours of a possible tie-up with Nestle....
A Nestlé milk product is being withdrawn from Hong Kong supermarkets after authorities detected tiny amounts of the chemical melamine....
Nestlé's Israeli subsidiary Osem Investments has acquired a 51% stake in the country's largest infant formula producer, Materna Laboratories, from Maabarot Products....
- 2017: three major drivers of M&A strategy
- Comment: Premier has more to ponder than Brexit
- The food market in 2017 - consumer trends and M&A
- Trump seen as negative for global food trade
- Analysis: B&G Foods balancing growth and decline
- Premier Foods issues profit warning
- Nestle mum on Mead Johnson takeover talk
- Mondelez sells Vegemite to Bega
- Kellogg to slash 250 jobs
- Emmi to buy dessert maker Italian Fresh Foods