Brazil's Braskem to pay $920 MM in leniency deal for corruption case
12/15/2016 7:03:48 AM
SAO PAULO (Reuters) -- Brazil's Braskem SA , the largest petrochemical producer in Latin America, signed a leniency deal on Wednesday with Brazilian prosecutors leading a sweeping corruption probe into political kickbacks at state-run oil company Petrobras, the company said in a securities filing.
The company agreed to pay $920 million in fines to Brazilian authorities. Around half will be paid in cash immediately, while the rest will be paid in six years beginning in 2018. Braskem did not elaborate on previously disclosed negotiations with US authorities.
Reporting by Tatiana Bautzer; Editing by Alan Crosby
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