Abengoa, Alcogroup Face Charges of Ethanol Benchmark Rigging: Sources
by Foo Yun Chee (Reuters) Spanish ethanol producer Abengoa and Belgium peer Alcogroup have been charged by European Union antitrust regulators with rigging ethanol benchmarks and are likely to face fines next year, two people familiar with the matter said on Wednesday.
The move by the European Commission followed a near three-year long investigation on concerns that the two and Swedish company Lantmannen may have colluded to manipulate ethanol benchmarks, which are published by energy and commodities information provider S&P Global Platts.
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The EU narrowed the scope of its case in December 2015 after it dropped Shell, BP, and Statoil from the investigation. READ MORE
European Commission charge Abengoa and Alcogroup with manipulating ethanol price benchmarks (Biofuels Digest)
Ethanol companies to contest EU cartel allegations (Global Competition Review)
Excerpts from Biofuels Digest: Abengoa and Alcogroup are likely to face fines next year as a result of the charges. Alcogroup said it will contest the charges while Abengoa didn’t respond to requests for comment. READ MORE
