JOHANNESBURG - The Competition Commission has reached a settlement with Unilever to pay R16-million without an admission of liability.
The agreement comes after the commission referred a case against Unilever and Malaysia's Sime Darby for prosecution over possible market division.
Apart from the penalty and supporting local business, Unilever will establish an enterprise and supplier development fund to the value of R40-million.
The Competition Commission says rulings and settlements of this nature benefit consumers directly.