Ontex comments on the Mexican Competition Authority investigation into legacy industry practices
Aalst-Erembodegem (Belgium), 3 May 2018 – COFECE, the Mexican antitrust authority, is conducting an investigation in our industry. To the best of Ontex’s knowledge, the facts under investigation relate to periods prior to its acquisition of Grupo PI Mabe, S.A. de C.V. (“Mabe”). Ontex and Mabe have been proactively and fully cooperating with COFECE in the investigation and intend to continue to do so.
Based on the facts and circumstances known to it and in light of the contractual terms of the Mabe acquisition, Ontex does not expect the investigation to result in a net financial cost to it.
Ontex is fully committed to complying with the laws and upholding high standards of ethical business conduct in any country in which it operates.
We have no further comment to make at this time. All future communication relating to this matter will be made in accordance with applicable legal requirements.
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