Tourvest fined R9m for collusion
Unlisted integrated tourism group Tourvest Holdings has been ordered to pay an administrative penalty of R9.18m within 30 days, after the Competition Tribunal found it guilty of collusive tendering or price fixing together with the Siyazisiza Trust.
Moneyweb reports that he Competition Commission welcomed the decision, saying they had contravened a section of the Competition Act.
‘The contravention related to bid rigging in respect of a tender issued by Acsa in February, 2013, for leasing three opportunities of arts, crafts, and curio retail spaces at OR Tambo International Airport for a period of five years,’ the commission said.
It said Tourvest and the Siyazisiza Trust concluded an MoU before submitting separate bids for one of the three tenders issued by Acsa.
‘In terms of the MoU, the respondents agreed to cooperate, as opposed to competing, when bidding for one of the three tenders known as opportunity 3,’ it added.
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