Dole Food has reached an agreement with the European Commission that will see it pay a EUR45.6m (US$58.4m) fine in instalments for its role in a price-fixing cartel.
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In October, the European Commission fined banana importers Dole and Weichert a total of EUR60.3m after ruling that the two companies – alongside Chiquita Brands International – broke EU laws on price fixing.
The Commission said the companies had formed a cartel to fix banana prices in eight EU markets, including Germany, the Netherlands and Sweden.
“Chiquita, Dole and Weichert were found to have broken antitrust laws and formed a cartel between 2000 and 2002,” a spokesperson for the Commission said.
“An agreement has been reached to facilitate Dole’s payment of the fine,” the spokesperson confirmed.
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By GlobalDataIt is understood that Dole will pay EUR10m by 22 January, the original payment deadline. The rest of the fine will be paid in instalments.
Dole was not immediately available for comment.
