October 18, 2019

Netherlands energy company announces closure of Brazilian bribery lawsuit

On October 9, 2019, SBM Offshore N.V., a Netherlands energy company, announced that the Brazilian Federal Prosecutors Office had formally closed a bribery lawsuit filed against the Company, allowing a previously-negotiated leniency agreement to take effect.  That agreement, which the Company entered into in July 2018, constitutes a final settlement between SBM and the Brazilian Federal Prosecutors Office, and requires SBM to pay BRL 200 million (approximately $49 million) to Petrobras.

In 2014, SBM settled Brazil-related bribery charges with the Dutch authorities, and in November 2017 the company entered into a deferred prosecution agreement with the US Department of Justice for its role in FCPA violations in Brazil.  Altogether, SBM has paid over $475 million to resolve the widespread and long-term bribery schemes with which it has been charged.

SBM press release | DOJ press release (November 2017)