Regulator imposes 76.3 million dram fine on City company affiliated with Alex & Holding Company

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10.11.2023, 13:47

Armenia's Competition Protection Commission (CPC) has imposed a fine of 76.3 million drams on City LLC for abusing a 'strong negotiating position.'

Regulator imposes 76.3 million dram fine on City company affiliated with Alex & Holding Company

YEREVAN, November 10. /ARKA/. Armenia's Competition Protection Commission (CPC) has imposed a fine of 76.3 million drams on City LLC for abusing a 'strong negotiating position.'

The CPC's press service said in a press release that the regulator examined the company's behavior in the process of purchasing and selling a number of primary food products in the period from January 1 to December 31, 2022.

The examination found out that 'in the course of sale of butter, the company applied discriminatory conditions , as well as applied unjustified differences between the terms that are essential for the sale of products of a competitor.'

In particular, in the course of selling the products without 'reasonable criteria', as a result of profit margins applied similar products of competitors of Alex & Holding, an affiliate of City Company, were sold at higher prices, which, in turn, formed a competitive advantage for Alex & Holding ensuring it significantly higher sales volumes.

The company admitted to the breach of the law. ($1 - AMD 402.68) -0-.

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