The Administrative Council for Economic Defense (CADE), Brazil's antitrust commission, fined medical and industrial gases producers, Air Liquide, Air Products, Linde, and White Martins (Praxair group) more than 2.94 billion reais (approximately USD 1.68 billion) for price-fixing, market division, and bid-rigging. According to CADE's ruling, the cartel had been active at least since 1998 and harmed the healthcare industry and several other businesses.

White Martins (Praxair group) was fined approximately USD 1.26 billion for recidivism, the highest fine ever in the history of antitrust enforcement in the country.

CADE also levied substantial fines on seven executives and directors of the medical and industrial gases producers.

Lanna Peixoto Advogados (LP) - Antitrust Practice Group

For further information, please contact partner Bruno Peixoto at bpeixoto@lpglobal.com.br or +55 11 5185-2848