Johannesburg The Swiss technology group ABB Ltd. pays more than $315 million to settle investigations by the US Department of Justice and South African and Swiss authorities into a bribery scandal in South Africa.
The US Department of Justice said Friday that ABB bribed a senior official at South Africa’s state-owned energy company to corruptly obtain confidential information and win lucrative contracts. ABB boss Björn Rosengren said on Friday that the company takes the matter very seriously.
Since the incident became known, ABB has worked extensively with all authorities and invested a lot of time and effort to prevent something similar from happening again.
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