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Brazil: Siemens seeks deal after ‘irregularities’ in SP subway tender

By  |  December 4, 2017

German industrial group Siemens is negotiating an agreement over more than 1 billion reais (US $ 307 million) with Brazilian prosecutors for civil cases related to irregularities in the tender process for the expansion of São Paulo’s metro system.

Siemens lawyers and prosecutors from the state of São Paulo met last week to discuss the agreement, which could require the company to admit its participation in various illegal acts. The newspaper Estado de São Paulo quoted anonymous sources inside the state prosecutor’s office.

The lawsuits were filed against Siemens after the company admitted to forming a cartel to alter the tender for supplying trains for the metropolitan transit system of Sao Paulo in 2013. Siemens reached a leniency agreement with competition regulator CADE, promising to hand over more evidence against public officials involved in the tender.

Full Content: America Economia

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