November 17, 2019

Brazilian prosecutors reach leniency agreement with another Car Wash participant

On November 12, 2019, Brazilian infrastructure and power plant conglomerate Nova Participações S.A., formerly known as Grupo ENGEVIX, entered into a “leniency agreement” with the Advocacia-Geral da União (the Attorney General of Brazil or AGU) and the Controladoria-Geral da União (Office of the Comptroller General or CGU), whereby the company agreed pay R$ 516.3 million (approximately US $122 million).  Authorities in Brazil were investigating the company as part of Operation Car Wash.  According to the CGU, the agreement follows approximately six months of negotiations, during which the company cooperated fully, providing information and evidence about the illegal conduct of over 150 entities and individuals.  

Nova Participações S.A. has until January 2046 to pay the full amount of the leniency agreement, of which R$ 315.84 million corresponds to the amounts of bribes paid, R$ 105 million is disgorgement of profits derived from the corrupt payments, and R$ 95.44 million is for civil and administrative penalties.