The Competition and Markets Authority (CMA) has handed a £25,000 fine to Tereos in relation to the firm’s deal with T&L Sugars (TLS).

TLS was recently cleared by the competition watchdog to buy Tereos UK & Ireland’s retail sugar business, although Tereos has been issued with the fine for failing to provide relevant information in relation to the merger inquiry.

As part of the CMA’s phase two investigation, a notice was sent to Tereos requiring the production of certain minutes and internal documents in relation to its board and corporate governance.

Tereos responded to the notice, however, following further enquires by the CMA it was found that Tereos failed, “without reasonable excuse” to provide a full response, the CMA said.

In particular, the CMA inquiry group found that Tereos’ interpretation of the scope of the notice was “unjustifiably narrow and untenable” when viewed in the context of the object of the merger inquiry.

Chair of the independent inquiry group which led the investigation, Richard Feasey, said: “It’s important that firms respect the UK merger review process – which includes providing all the information we need to promptly progress our investigation.

“Firms and their advisers must not apply their own narrow, artificial interpretation of our formal information gathering requirements – as Tereos has done so here. Had they responded properly then Tereos could have avoided this fine altogether.”

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