Brazil's Schahin files for bankruptcy protection in wake of scandal
SAO PAULO, April 17 (Reuters) - Twenty-eight units of Brazilian engineering firm Grupo Schahin filed for bankruptcy protection on Friday as fallout from a corruption scandal at key client Petróleo Brasileiro SA hampered efforts to refinance up to 6.5 billion reais ($2.1 billion) in debt.
Schahin, which has businesses ranging from engineering and electricity to oil and gas services, made the request for creditor protection in a São Paulo state court, according to a statement. Under terms of the bankruptcy protection plan, Schahin plans to abandon its activities in engineering and construction and focus on oil and gas services. (Reporting by Guillermo Parra-Bernal)
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