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Ontex Notes Decision by Mexican Competition Authority on Legacy Industry Practices and Confirms No Net Financial Cost for Ontex
Rhea-AI Impact
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Rhea-AI Summary
Ontex Group NV (OTC-PINK: ONXYY) announced that COFECE, Mexico's antitrust authority, concluded an investigation into legacy practices in the personal hygiene industry, which occurred from February 2008 to June 2014, prior to Ontex's acquisition of Grupo PI Mabe in 2016. Ontex cooperated fully during the investigation. Notably, the decision will have no net financial impact on Ontex, as outlined in previous annual reports. The company reaffirms its commitment to legal compliance and ethical business standards.
Positive
Ontex fully cooperated with COFECE throughout the investigation.
The COFECE decision will have no financial impact on Ontex.
Negative
None.
AALST-EREMBODEGEM, Belgium--(BUSINESS WIRE)--
Ontex Group NV (Euronext Brussels: ONTEX) noted today that COFECE, the Mexican antitrust authority, announced their decision on legacy practices in the personal hygiene industry. Their decision confirms that the facts investigated relate to the period February 2008 to June 2014, prior to Ontex’s acquisition of Grupo PI Mabe, S.A. de C.V. (“Mabe”) in 2016. Ontex has proactively and fully cooperated with COFECE throughout their investigation.
As expected and disclosed in our annual reports, this decision has no net financial impact for Ontex, based on the contractual arrangements for its acquisition of the Mabe business.
Ontex remains fully committed to complying with the laws and upholding high standards of ethical business conduct in any country in which it operates.
About Ontex
Ontex is a leading international provider of personal hygiene solutions, with expertise in baby care, feminine care and adult care. Ontex’s innovative products are distributed in more than 110 countries through Ontex brands such as BBTips, BioBaby, Pompom, Bigfral, CanBebe, CanPed, iD and Serenity, as well as leading retailer brands. Employing some 10,000 passionate people all over the world, Ontex has a presence in 21 countries, with its headquarters in Aalst, Belgium. Ontex is listed on Euronext Brussels and is part of the Bel Mid®. To keep up with the latest news, visit www.ontex.com or follow us on LinkedIn, Facebook, Instagram and YouTube.
What was the COFECE decision regarding Ontex Group NV?
The COFECE decision addressed legacy practices in the personal hygiene industry from February 2008 to June 2014, prior to Ontex's acquisition of Grupo PI Mabe.
Does the COFECE decision have any financial impact on Ontex Group NV?
No, the decision has no net financial impact on Ontex, as stated in their annual reports.
What period did the COFECE investigation cover for Ontex?
The investigation covered the period from February 2008 to June 2014.
