Chile: CMPC makes good on cartel compensation payments

Chilean paper company CMPC has met its major obligations in its agreement to compensate the country’s consumers, represented by the Conadecus and Odecu consumer advocate groups and the government’s Sernac consumer protection agency. On Thursday, the company turned over a total of $97.64 billion pesos ($148 million USD approx).

The payment is meant as compensation for all Chilean consumers 18 and above and with proper ID. Each consumer will receive no less than 7,000 pesos ($10.50), meaning a family of 3 or 4 adults could receive between 21 and 28,000 pesos ($32-40 USD).

“All of these resources will be disposed of according to the decisions made by the negotiating table. This means that not a single unclaimed peso will make its way back to the Company” said CMPC’s General Manager, Hernán Rodríguez.

Full Content: Bio Bio Chile

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.