Settlements

ST-533
Yara International ASA
Yara International ASA
Nigeria, Norway
OKOKRIM
India, Libya
2014
1/15
Unknown
Legal Person
Criminal
Penalty Notice
Criminal Fine
$44,182,500
$44,182,500
NA
$0
$0
$0
$0
NA
Art.17
Art. 1, Art. 2
Bribery of foreign public officials
Bribery of Foreign Public Officials
Not specified
According to the press release by Yara International, "The Board of Yara International ASA has informed the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) that the company acknowledges guilt and accepts a corporate fine and confiscation totalling NOK 295 million. This relates to agreements dating back to 2007 and earlier. In April 2011 Yara International ASA launched an external investigation and concurrently notified Økokrim of possible irregularities. The main findings of the external investigation were published in June 2012. [ ] The fine of NOK 270 million is related to historical irregularities linked to the establishment of Lifeco (Libya), an unrealized project in India and Yara's activities in Switzerland. In addition Økokrim has imposed a confiscation of NOK 25 million related to earlier phosphate deliveries." (Source: YARA International ASA Media Release, "Yara accepts corporate penalty," January 15, 2014.)