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Brazil Signs Leniency Deal with SBM Offshore

Petrobras

By Reuters 2016-07-16 19:51:15

Brazil's federal prosecutors said they signed a leniency deal on Friday with Netherlands ship leasing firm SBM Offshore NV aimed at obtaining more evidence in the South American country's widest-ever corruption probe.

SBM, which has been accused of paying bribes to executives of state-controlled oil company Petrobras from 1996 to 2012, will be immune to new lawsuits concerning the case, federal prosecutors office for Parana state, which is conducting the probe, said in a statement.

Under the agreement, SBM will pay a $163 million fine, of which Petrobras will receive $149.2 million, prosecutors said.

SBM will be allowed to bid for new Petrobras contracts. Some of its current contracts with Petrobras will be reduced, by a total of $179 million, the statement said.

The leniency deal also involves the federal transparency ministry.

Part of the fine will fund government enforcement agencies to prevent new corruption cases, the statement said.