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.

You can claim CPD minutes for this content, by signing up to our CPD Wallet

FREE CPD Wallet

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.