Odebrecht to pay $734 million in damages over corruption
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Brazil-based engineering conglomerate Odebrecht S.A. has reached a preliminary agreement to pay a 2.7 billion Brazilian real ($734 million) in damages in relation to a recent corruption scandal, Reuters reported citing Valor Economico. The scandal involved alleged payment of bribes to local politicians for government contracts. The agreement between Odebrecht and Brazil’s comptroller is likely to be signed in June.
