May 27, 2019 / 11:39 PM / 3 months ago

Braskem board approves leniency deal with Brazil's authorities

BRASILIA, May 27 (Reuters) - The board of Brazilian petrochemicals producer Braskem SA has approved the signing of leniency deal with Brazil’s comptroller general’s office and the government’s solicitor general in the Car Wash corruption case, the company said on Monday in a filing.

Braskem will pay 410 million reais to settle the case of political kickbacks and bribes involving contracts with state-run oil company Petroleo Brasileiro SA. Braskem and engineering group Odebrecht, which jointly owns the petrochemical firm with Petrobras, agreed in 2016 to pay U.S., Swiss and Brazilian authorities $3.6 billion to resolve international charges involving payoffs to the oil company and others.

Reporting by Aluísio Alves Editing by Sonya Hepinstall

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