Mexico's antitrust authority said on Wednesday it had fined companies including retailer Liverpool BMV:LIVEPOL/1 and supermarket operator Chedraui BMV:CHDRAUI/B more than 500 million pesos ($28.74 million) for colluding to manipulate commercial rent payments during the COVID-19 pandemic.
In a statement, Mexico's antitrust body said the companies worked together to limit how much rent relief they gave mall tenants.
Grupo Danhos BMV:DANHOS/13, GICSA BMV:GICSA/B, Acosta Verde BMV:GAV/A, Desarrolladora Mexicana de Inmuebles and Grupo Aryba are also among the sanctioned companies.
The practice caused estimated damages of about 404 million pesos ($23.21 million), the regulator said.
Danhos referred to a March statement in which it said it disagreed with the findings and planned to challenge the decision in court. The other firms did not immediately respond to requests for comment.
Shares were largely unmoved by the announcement, which came out shortly before markets closed.
($1 = 17.4041 Mexican pesos)