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Samsung Heavy agrees to $149 million settlement in Brazil over bribery probe
Samsung Heavy Industries Co. has agreed to pay US$149 million in a leniency settlement with Brazilian state prosecutors and auditors over a graft probe surrounding the company's drillship orders.
The company settled with Brazil's Office of the Comptroller General, Office of the Attorney General, and the Federal Prosecutor's Office by also accepting the investigation results of a criminal case involving a broker.
In return, the Brazilian authorities will not pursue further legal or administrative actions against Samsung Heavy.
Samsung Heavy Industries was implicated in a corruption scandal involving Brazil's state-owned oil firm Petrobras after a broker between the two entities was found to made bribes using commission fees.
The South Korean shipbuilder signed deals with Petrobras from 2006 and 2007 to provide three drillships that were delivered between 2009 and 2011.