German fine a medium-term overhang for Bharat Forge
The terms of settlement are confidential under applicable lawsPremium
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The Bharat Forge Ltd stock has been on investors’ radar, but for the wrong reasons. Even before concerns about new virus impacting its UK business could be allayed, another worry has emerged. A penalty of €32 million has been imposed on Bharat Forge’s subsidiaries by the German fair trade authority.
Germany’s national competition regulator, Bundeskartellamt (Federal Cartel Office), was investigating Bharat Forge Aluminiumtechnik GmbH, Bharat Forge CDP GmbH and Bharat Forge Global Holding GmbH, among other companies, in two matters between 2004 and 2018. In the said matters, the subsidiaries have reached a settlement for the aforementioned amount to be paid over the next five years. The terms of settlement are confidential under applicable laws, it said in a stock exchange filing.
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