Brazil's Camargo Correa pursues second leniency deal - report

viernes 14 de agosto de 2015 13:30 GYT

SAO PAULO Aug 14 (Reuters) - Brazilian engineering company Camargo Correa is looking to negotiate a leniency deal with the country's comptroller general, Folha de S. Paulo reported on Friday, after securing a deal with federal prosecutors and antitrust regulator CADE.

The comptroller, known as the CGU, said in an e-mailed statement that six companies under investigation in a price fixing and political kickback scandal focused on state-run oil firm Petroleo Brasileiro SA were in talks but declined to give names.

Camargo Correa representatives did not respond to request for comment.

Folha said the company had approached the CGU last week and formal talks should begin in coming days.

The CGU is investigating 29 of Brazil's top builders as part of the multibillion-dollar scheme that funneled bribes to executives and politicians.

The federal government is counting on leniency deals to minimize economic fallout from the investigation. As the scandal has deepened over the past year, key infrastructure projects have been suspended or scrapped, some suppliers have sought bankruptcy protection and job losses are mounting by the tens of thousands.

Companies that sign such agreements can have potential fines reduced by up to two thirds and continue bidding for contracts with the government. Normally, fines for bribery in Brazil are between 0.1 percent and 20 percent of a company's gross revenue.

Dutch oil platform leasing firm SBM Offshore NV and Engevix Engenharia SA have also said they are negotiating leniency deals with the CGU. (Reporting by Caroline Stauffer; Editing by Bernard Orr)