Sekunjalo Investments: Commission probes alleged price fixing

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Sekunjalo responds to Times Media

Johannesburg - A fishing company owned by Sekunjalo Investments was being investigated by the Competition Commission for alleged price fixing, the Sunday Times reported yesterday.

Commission spokesman Themba Mathebula confirmed that the case involving Sekunjalo’s Premier Fishing had been referred to the tribunal for final adjudication.

“The case is now at our legal services department and they are finalising the referral process.”

This followed a long investigation into claims that fishing companies were colluding to charge set prices for skippers, crew and private boat owners.

Sekunjalo spokeswoman Cherie Hendricks said Premier Fishing acted with “a good governance standard. We are confident of our position as we have communicated this to the commission.” The newspaper said that in Sekunjalo’s annual report last year, it had made provision for an “expected penalty… The settlement terms are currently being negotiated”.

Oceana has already paid a R35 million fine in connection with the investigation.

JSE-listed Sekunjalo Investments is a sister company to Sekunjalo Holdings, a major member of the consortium which last year bought Independent Newspapers, the publisher of Business Report. – Sapa

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