UPDATE 2-SBM Offshore says agents may have bribed officials in Africa

miércoles 2 de abril de 2014 08:18 GYT
 

* Shares jump more than 5 percent in Amsterdam trading

* Brazil still seen as biggest risk to SBM Offshore shares (Adds detail, reaction, background)

By Anthony Deutsch

AMSTERDAM, April 2 (Reuters) - Dutch oil and gas services company SBM Offshore NV said a two-year internal investigation had found evidence that agents in Angola and Equatorial Guinea may have bribed government officials.

But the company said it found no evidence of such practices in Brazil, where it does much of its business, and shares in SBM Offshore jumped more than 5 percent on Wednesday.

An ING analyst said the company's statement held no surprises and Rabobank said it was lowering its estimate for expected settlement costs with Dutch and U.S. authorities by $150 million to $350 million.

Both banks have a "buy" recommendation on SBM Offshore.

"These authorities will form their own judgment on these issues," SBM Offshore said in a statement. "New information could surface in the context of the review by these authorities."

The company announced the internal investigation in April 2012 and voluntarily informed national authorities. On Wednesday it said it "is still not in a position to estimate the ultimate consequences, financial or otherwise, if any, of that review."   Continuación...