By Nasreen Seria
June 3 (Bloomberg) -- South African antitrust regulators, investigating claims of price fixing among millers of the staple food white corn, called on companies to come clean on breaches of competition rules in return for more lenient penalties.
Millers have until June 30 to come forward, the Competition Commission said in an e-mailed statement today.
The regulator referred the case to the Competition Tribunal after finding evidence that 17 millers including Tiger Brands Ltd. and Premier Foods Ltd. fixed prices, it said on March 31. The commission recommended fines of 10 percent of annual sales. Tiger Brands and Premier Foods were granted conditional immunity for cooperating with the investigation, it said at the time.
