The leniency agreement signed by Braskem contemplates, in addition to the return of the billionaire amount, the possibility of the company returning to receive loans and to participate in federal government tenders.

Last Friday (31/05), Braskem, a company of the Odebrecht group, signed a leniency agreement with the Comptroller General of the Union (CGU) and the Advocacy General of the Union (AGU).
According to the agreement, the company undertakes to return BRL 2,87 billion by January 2025 to the public coffers and to Petrobras.

Braskem, which will have a reduction in the amount of fines to be paid, will also, if it complies with the agreement, have the possibility of obtaining financing from federal agencies and participating in biddings again.

The company chose to sign the agreement, after being investigated by the Lava Jato operation and having recognized that its acts of corruption harmed the union, thus cooperating with the investigations.

Braskem's official note

“Braskem informs that the agreement signed with the Attorney General's Office (AGU) and the Federal Comptroller's Office (CGU) represents a complementary step on the same facts contemplated in the December 2016 global agreement.

The 66% fine reduction was a good deal for the company, which has already returned BRL 2 billion to the Union and BRL 800 million to Petrobras.
So far, the company has already deposited BRL 1,33 billion and the remaining BRL 1,54 billion will be divided into six annual installments between 2020 and 2025.

What caused surprise in the market is that Brakem had already signed an agreement with the MPF, in December 2016, in which it committed to returning R$ 3,1 billion to the public coffers.
Of this amount, R$2,2 billion would be allocated to Brazilian authorities, and the remainder, around R$900 million, to authorities in other countries.

According to the CGU, this new agreement takes effect, but it did not explain how this was possible, since the previous agreement had already been ratified in the Federal Court.

The agreement with the company of the Odebrecht group takes place shortly after the construction arm of the company change the corporate name to OEC.
The leniency agreements have already yielded R$8,93 billion to the public coffers, referring to negotiations with seven companies and three more agreements are expected to close by the end of the year.

See too ! Saipem units are under investigation in Brazil for irregularities in Petrobras contracts!