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Siemens, Brazilian prosecutors eyeing 1 billion real settlement: newspaper

Reuters  |  RIO DE JANEIRO 

RIO DE JANEIRO (Reuters) - German industrial group Siemens is negotiating a settlement worth more than 1 billion reais ($307 million) with Brazilian state prosecutors over civil cases relating to irregularities in metro tenders, according to a Monday newspaper report. The Estado de S. Paulo reported that lawyers for Siemens and Sao Paulo state prosecutors met last week to discuss the deal, which it said is on the cusp of being sealed and would require the company to admit to illicit acts. The paper cited unnamed sources within the state prosecutors office.Siemens declined to comment, while ...

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First Published: Mon, December 04 2017. 19:22 IST