SBM Offshore NV (SBMO.AS)
Thu, Nov 30 2017
* SBM OFFSHORE REACHES RESOLUTION WITH THE U.S. DEPARTMENT OF JUSTICE
WASHINGTON SBM Offshore NV , a Netherlands-based maker of offshore oil drilling equipment, and its U.S. subsidiary, SBM Offshore USA Inc, agreed to settle criminal charges of bribing officials in five countries and pay a $238 million penalty, the U.S. Justice Department said on Wednesday.
Two former executives at Dutch oil services company SBM Offshore NV have pleaded guilty to U.S. charges that they participated in a scheme to bribe officials at three foreign state-run oil companies, including Brazil's Petrobras.
Nov 9 Two former executives at Dutch oil services company SBM Offshore NV have pleaded guilty to U.S. charges that they participated in a scheme to bribe officials at three foreign state-run oil companies, including Brazil's Petrobras.
AMSTERDAM Marine engineering group SBM Offshore said a Brazilian investigation into its role in corruption cases had not been resolved and set aside an additional $238 million provision on Monday to cover costs from an unexpected U.S. inquiry.
* Takes additional provision for U.S. settlement (Updates after conference call; shares drop 10 pct)
BRIEF-SBM Offshore says $238 mln provision for legacy issues based on advanced discussions with U.S. DOJ
* SBM Offshore NV-provision of $238 million based on advanced discussions with U.S. DOJ in relation to their reopened investigation into legacy issues, Unaoil Source text for Eikon: Further company coverage:
AMSTERDAM, Nov 6 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.