Home / FINANCE / Markets Insider / Brazil wants $12.7 bln excellent on Andrade engineering organisation -O Globo (PETR4, CANT4B, ANDG4B)

Brazil wants $12.7 bln excellent on Andrade engineering organisation -O Globo (PETR4, CANT4B, ANDG4B)

SAO PAULO, Oct 8 (Reuters) – The Brazilian supervision is
seeking 40 billion reais ($12.7 billion) from construction and
engineering organisation Andrade Gutierrez SA to settle claims
related to a appearance in a swindle scheme, journal O
Globo reported on Sunday.

Citing calculations from members of a Office of the
Attorney General and a Office of a Comptroller General, O
Globo pronounced a excellent is a condition for a signature of a
leniency agreement that would concede a organisation to continue bidding
for supervision contracts.

Andrade Gutierrez is one of 10 companies being investigated
since Mar 2015 for a “Car Wash Operation,” a examine into
kickbacks from association executives to politicians in lapse for
contracts during state-run enterprises, generally Petroleo
Brasileiro SA.

Andrade is in talks to negotiate a terms of a leniency
agreement, though a organisation deliberate a allotment volume too
high and expected to lead it to bankruptcy, O Globo reported,
citing unnamed sources with believe of a negotiations.

Andrade Gutierrez did not immediately respond to emails and
calls seeking comment.

($1 = 3.1557 reais)
(Reporting by Ana Mano; modifying by Grant McCool)

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