EU General Court Reduces Fine in Heineken Dutch Competition Case
Heineken mandates 100 percent compliance with applicable competition law and the company's competition law policy wherever it does business
6/17/2011 --- Heineken N.V. announced that the General Court of the European Union in Luxembourg has largely upheld the finding of the European Commission dated 18 April 2007, which found that Heineken and other Dutch brewers violated EU competition rules during the period 1996 – 1999.
However, the General Court has decided to reduce the initial fine of €219 million imposed on Heineken in 2007 by €22 million. In line with EU regulations, the €219 million fine was paid in full in July 2007 and reported as an exceptional item at the time. The €22 million refund announced will be treated as an exceptional item in the 2011 financial statements.
Jean-François van Boxmeer, Chairman of the Executive Board/CEO of Heineken N.V. commented: “We are disappointed that the General Court has not accepted all of our arguments, but we appreciate that the Court has reduced the amount of the original fine.”
Heineken will consider its options once it has studied the full text of the Court’s decision.
Heineken mandates 100 percent compliance with applicable competition law and the company's competition law policy wherever it does business. For many years the company has implemented an ongoing global compliance programme, actively involving all relevant employees.
