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Brazil: CADE strikes US$237M deal with Odebrecht and partners

 |  November 26, 2018

Four Brazilian construction companies involved in the corruption network identified by the “Lava Jato” crackdown have agreed to pay 897.9 million reais (approximately US$236.9 million).

The companies Carioca Christiani-Nielsen Ingeniería, Construtora Norberto Odebrecht, Constructora OAS, and Constructora Andrade Gutiérrez accepted the terms offered by the Administrative Council of Economic Defense (CADE) to avoid even greater fines. The companies also committed themselves to collaborate with CADE in its further research into the widespread bid-rigging effort.

A total of 16 agreements were signed related to six different investigations involving the companies regarding bribes for the awarding of engineering and construction contracts through public tenders, including those for state oil company Petrobras, for a Brazilian nuclear power plant, for stadiums built for the Brazil Soccer World Cup, for railway lines, and for the urbanization of favelas in Rio de Janeiro.

Full Content: CDN
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