Brazilian Fifth Chamber has approved an agreement between the country’s prosecutor and Dutch FPSO operator SBM Offshore regarding legal proceedings against the company related to legacy bribery issues in Brazil.
The leniency agreement with the Brazilian Federal Prosecutor’s Office (Ministério Público Federal – MPF) of September 1, 2018, has been approved by the Brazilian Fifth Chamber for Coordination and Review and Anti-corruption, SBM Offshore informed on Tuesday.
Under the agreement, the MPF committed to refrain from initiating new legal proceedings against the company under the Improbity Law, Anti-Corruption Law and Public-Procurement Law in relation to the legacy issues in Brazil.
This leniency agreement comprises a final settlement between SBM Offshore and the MPF with respect to alleged improper sales practices before 2012.
Following the Fifth Chamber approval, the MPF and the company will jointly request the Federal Court to formally close the Improbity Lawsuit filed by the MPF in 2017, including the associated provisional measure to secure payment of potential damages. Upon closure of the lawsuit, the agreement will become fully effective, after which SBM Offshore will pay the earlier announced fine of BRL 200 million ($51.3 million).
The leniency agreement with the MPF followed the leniency agreement signed by the company on July 26, 2018, with other Brazilian authorities and Petrobras.
Upon signing, this agreement became final and effective and has allowed the company to effectively compete for new business opportunities in Brazil.