November 6, 2017 / 6:49 AM / a month ago

SBM Offshore takes $238 mln provision in U.S. investigation

AMSTERDAM, Nov 6 (Reuters) - SBM Offshore, the marine engineering firm that paid $240 million to Dutch authorities to settle a Latin American bribery case in 2014, said on Monday it had taken a new $238 million provision to settle a related case with U.S. authorities, as well as another linked to its relationship with Monaco-based Unaoil.

In a disclosure of its continuing legal issues, SBM said that it has yet to reach a comprehensive settlement with Brazilian authorities. That will preclude the company from doing business with Petrobras, a key customer, for the time being, SBM said in a statement. (Reporting by Toby Sterling; Editing by Amrutha Gayathri)

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