April 21, 2016 / 5:41 AM / 2 years ago

Arcadis says internal probe finds no wrongdoing in Brazil

AMSTERDAM, April 21 (Reuters) - Dutch engineering firm Arcadis said on Thursday an internal investigation into its role in a Brazilian water management project had found no evidence of any wrongdoing.

In December, the company said it was cooperating with Brazilian police as part of an investigation into suspected misuse of funds at a $6.4 billion water management project in northern Brazil.

It was never clear whether the company itself was a target of the Brazilian government’s investigation, which has named other suspects, but the government investigation is continuing.

At the time, the news led to a major sell-off in Arcadis shares.

On Thursday, Arcadis said it had widened its own investigation to look at how it handles several other Brazilian projects. (Reporting by Toby Sterling; Editing by Gopakumar Warrier)

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