Brazil’s Odebrecht to pay 161.9 million reais to Eletrobras in new leniency deal
03 Jan 2019

Brazilian construction conglomerate Odebrecht SA [ODBES.UL] has agreed to pay 161.9 million reais (£32.8 million) to Centrais Eletricas Brasileiras SA (ELET6.SA) in a deal with authorities to help settle corruption allegations against it, according to a securities filing on Wednesday.

Eletrobras, as the state-run power holding company is known, said the payment refers to losses in relation to the construction of Santo Antonio and Belo Monte hydroelectric dams.

In 2016, Odebrecht acknowledged in a leniency deal that it had bribed officials in a dozen countries to secure public works contracts.

– By Carolina Mandl, Reuters, 2 January 2018.

Link to Reuters.

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