FNE indicts Chilean fish feed industry

As is known in the market, the Chilean competition authority, Fiscalia Nacional Económica (“FNE”), initiated an investigation of the Chilean fish feed industry in October 2016. As part of the investigation, BioMar's Chilean subsidiary, BioMar Chile, and other companies have been subject to unannounced inspections. Naturally, BioMar Chile has been cooperative, responding to questions and providing the documentation requested to the extent possible.

Further to the industry investigation, the FNE has now indicted BioMar Chile on charges of concerted practice, claiming that the company be fined up to USD 24 million. The charges are based on isolated circumstances related to the Chilean fish feed industry in the period 2003-2015.

BioMar Chile does not acknowledge the charges brought by the FNE, and the company intends to rebut the charges that it has participated in concerted practices so as to restrict competition in the industry.

Presumably, this will be a rather long-running case, but we will keep the market informed of any material developments in the matter.

Aktieselskabet Schouw & Co.

Jørn Ankær Thomsen, Chairman

Jens Bjerg Sørensen, President             

Questions relating to the above should be directed to President Jens Bjerg Sørensen on tel. .

Attachment