On July 14, 2020, the European Commission adopted its 33rd cartel settlement decision: an unusual one involving a purchasing cartel, in the ethylene merchant market. Four companies were found liable for having colluded for over 5 years to drive down the prices in monthly ethylene merchant bidding markets. Westlake was the first to apply to the Commission and received immunity from fines (which would have been about Euro 190M). The other three were fined in aggregate Euro 260M.
What are the interesting features of this cartel decision? Continue Reading An Unusual Purchasing Cartel: EU Fines Ethylene Purchasers