South Africa's competition commission raids Wilmar unit

WILMAR International Limited confirmed on Thursday that a search and seizure operation was conducted by the Competition Commission of South Africa on the premises of its South African subsidiary Wilmar Continental Edible Oils and Fats (Pty) Ltd.

This is part of an industry-wide investigation by the Competition Commission into several companies in the manufacture and distribution of refined edible oils, baking fats and margarine in South Africa, it said in a regulatory filing.

"Wilmar is disappointed by today's unfortunate events but cannot comment further on any matters which are part of the ongoing investigation," the group said.

"Wilmar takes legal compliance very seriously and adheres strictly to the principle of complying with all applicable laws, rules and regulations in the countries in which it operates. Wilmar is cooperating with all parties involved to gather information in order to assist with the investigation."