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According to press statements by SBM Offshore, the company's CEO and Member of the Supervisory Board agreed to an out of court settlement on a non admission of guilt basis for bribes allegedly paid to officials of the majority Brazilian government owned Petrobras. The settlement agreement was approved by a judge. (Sources: SBM Offshore Press Releases, "Confirmation of the Settlement Regarding Allegations Against CEO and Member of the Supervisory Board," April 6, 2016 and "Settlement Regarding Accusations against CEO and Member of the Supervisory Board," January 25, 2016.) According to SBM Offshore's 2015 Full-Year Earnings report, the company had set aside $245 million for a possible settlement with the Brazilian authorities. (Source: SBM Offshore 2015 Full-Year Earnings Report, "Compliance," Ferbuary 10, 2016.)
SBM Offshore Full Year 2015 Earnings, "Compliance," February 10, 2016 at http://www.sbmoffshore.com/?press-release=sbm-offshore-2015-full-year-earnings; SBM Offshore Press Releases, "Confirmation of the Settlement Regarding Allegations Against CEO and Member of the Supervisory Board," April 6, 2016, at http://www.sbmoffshore.com/?press-release=confirmation-settlement-regarding-allegations-ceo-member-supervisory-board, and "Settlement Regarding Accusations against CEO and Member of the Supervisory Board," January 25, 2016, at
but no official information is provided in the Controladoria-Geral da Uniao (General Attorney Office) web page. http://www.cgu.gov.br/assuntos/responsabilizacao-de-empresas
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