BREAKING NEWS

BREAKING NEWS

Brazil's Odebrecht to pay 161.9 million reais to Eletrobras in new leniency deal

Brazil's Odebrecht to pay 161.9 million reais to Eletrobras in new leniency deal
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PAULO WHITAKER(Reuters)
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SAO PAULO (Reuters) - 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.

(Reporting by Carolina Mandl, editing by Louise Heavens)

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