In a fully reasoned ruling dated November 25, 2020, the
Criminal Chamber of the
Cour de
Cassation (French Supreme Court) has reversed a case law
that had been established for more than twenty years in merger by acquisition transactions (i.e., when a
company is merged into another): The acquiring company may now,
under certain conditions, be held criminally liable for an offence
committed by the acquired company prior to the merger and for which
it had not been convicted.
This is a landmark decision since the Criminal Chamber,
which until then had equated the disappearance of a legal entity
with the death of a natural person, had consistently held so far
New Modelo Continente opens in Vila Real de Santo António By TPN/Lusa, in Algarve · 23-12-2020 01:00:00 · 0 Comments
With the cafeteria services, Well’s and Continente Plug & Charge, the second Continente store in the municipality of Vila Real de Santo António has opened to the public, with a sales area of about 1740m2.
This Continente Modelo, located at Avenida Fernando Salgueiro Maia, Lugar das Hortas, now joins the Continente Bom Dia of Vila Real de Santo António, inaugurated in 2018, to serve the region’s consumers.
The new store, which has led to the creation of 77 new jobs reinforces the brand’s commitment in the district of Faro, which now has 17 Continente stores.
Pingo Doce will challenge judicially €91 million fine By TPN/Lusa, in News · 21-12-2020 21:00:00 · 0 Comments
Jerónimo Martins, owner of the Pingo Doce supermarket chain, said today that it will challenge the decision of the Competition Authority (AdC) to fine it €91 million for price fixing. Pingo Doce will challenge those decisions in court and use all means at its power to defend its reputation and repute the truth of the facts, read a statement from Jerónimo Martins sent today to the Securities and Exchange Commission (CMVM).
The AdC decided today to impose a fine of €304 million to six supermarket chains, two beverage suppliers and two individual officials, for indirectly fixing sales prices, a practice detrimental to consumers .
By Reuters Staff
2 Min Read
LISBON, Dec 21 (Reuters) - Portugal’s competition authority AdC imposed fines worth a total 304 million euros on six supermarket chains, including retail leaders Sonae and Jeronimo Martins, and two beverage suppliers for illegally fixing prices, the regulator said on Monday.
It said Modelo Continente, owned by Sonae, Pingo Doce run by Jeronimo Martins, the local units of France’s Auchan and Intermarche and the supplier Sociedade Central de Cervejas (SCC) had agreed a progressive increase in prices for various drinks, including beers and waters.
The illegal practices occurred between 2008 and 2017, AdC said in a statement.