THE ANTITRUST Office of the Slovak Republic has ordered the German firm Scholz AG to pay a fine of €5,100 and the Czech company Heim Trade a fine of €550. The two companies disregarded the deadlines set by law in the acquisition of Scholz Holding GmbH, the SITA newswire reported.
In addition, the two firms executed rights and duties stemming from the takeover before clearance of the deal took effect. The regulator advised that the companies can appeal the fine at the Council of the Slovak Antitrust Office.
Considering the penalty for late announcement of acquisition, Scholz is to pay €1,800 and Heim Trade €200. The execution of rights and duties will cost the German company €3,300, while the Czech partner was fined €350.
The verdict took effect on April 27, 2010, the regulator announced.
Scholz AG is one of the leading companies in processing and recycling of iron and scrap metal in Europe. The Czech Heim Trade trades in waste.
Compiled by Michaela Stanková from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
4. May 2010 at 14:00