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.
You can claim CPD minutes for reading this article, by signing up to our CPD WalletFREE CPD Wallet