A soft drink company was fined 10 million riyals, and the...

Riyadh (Echo):

The competent administrative court upheld the General Authority for Competition’s decision to fine PepsiCo Services LLC “10 million pounds” after it was proven guilty of completing an acquisition without informing the authority of the violation of competition regulations and rules, in addition to coordinating the division of markets among the bottlers.

The commission obligated the company to publish the penalties imposed against it at its own expense, as the commission approved for each violation a penalty of 5 million riyals.

The company had grieved the competition authority’s decision before the Administrative Court, and the court, in its first degree and the appeal, ended up supporting the authority’s decision, making the rulings final.

This comes in order to protect the national economy from any monopolistic practices that would harm other companies and the reputation of investment in the Kingdom or harm consumers.

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