In September 2012, the Competition Commission of South Africa started an investigation into conduct between competitors in the car carrier trade, concerning transport to and from South Africa in the period from 1999 to September 2012.
WWL takes this matter very seriously and has cooperated fully with the CC throughout the investigation. Among other findings, the Commission's investigation concluded that WWL engaged in instances of prohibited practices. Accordingly, WWL has entered into a consent agreement with the Commission. The Competition Commission, being the investigating authority, has now referred the settlement to the Competition Tribunal of South Africa to be tried.
If the settlement is confirmed, WWL will pay an administrative penalty in the amount of R95 695 529 (USD 7.7 million) and implement and monitor a competition law compliance programme as part of its corporate governance policy.