SKF settles last carmaker lawsuit over ball bearings cartel

The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke
STOCKHOLM (Reuters) - SKF (SKFb.ST) has reached a settlement with Daimler (DAIGn.DE) over the Swedish engineering group’s alleged participation in a ball bearings cartel, drawing a line under its disputes with automakers over this issue.

The world’s largest maker of industrial bearings was sued by three carmakers after European Union antitrust regulators in March 2014 fined it and other suppliers a total of 953 million euros ($1.1 billion) for taking part in a ball bearings cartel.