During a hearing held on June 11, 2019, the Administrative Council for Economic Defense (CADE) entered into a Settlement Agreement with Petrobras for the sale of eight oil refineries and associated infrastructure. The agreement was approved by the majority of CADE’s Commissioners and has in effect suspended CADE’s investigation against the company for alleged abuse of dominant position
The Brazilian Competition Authority enters into a settlement agreement with a major refining company for the sale of oil refineries (Petrobras)
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