Gerdau Settles Antitrust Case with CADE, Agrees to Pay R$256 Million
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Gerdau SA ( (GGB) ) has issued an announcement.
Gerdau S.A. announced an agreement with the Brazilian antitrust authority CADE, concerning an investigation into alleged anti-competitive practices in the steel rebar production market. The agreement, which does not imply admission of wrongdoing by Gerdau, results in the company agreeing to pay over R$256 million to the Fundo de Defesa de Direitos Difusos, thus terminating legal actions and appeals related to this matter.
More about Gerdau SA
Gerdau S.A. operates in the steel industry, focusing on the production of steel and steel rebar products, catering to a variety of markets with a notable emphasis on infrastructure and construction sectors.
YTD Price Performance: -25.33%
Average Trading Volume: 11,218,745
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $5.92B
Find detailed analytics on GGB stock on TipRanks’ Stock Analysis page.
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