June 20, 2019 / 4:40 PM / 4 months ago

Walmart's Brazilian unit agrees to pay $138 mln to settle FCPA charges

WASHINGTON, June 20 (Reuters) - Walmart Inc has agreed to pay a penalty of $138 million to settle a claim that its Brazilian unit violated the Foreign Corrupt Practices Act, according to court filings.

The settlement was reached on Thursday in a federal court in Virginia.

In 2018, Walmart sold an 80 percent stake in its Brazilian operations to private equity firm Advent International.

The retailer did not immediately respond to requests for comment.

Reporting by Sarah Lynch and Nandita Bose in Washington Editing by Chizu Nomiyama

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