Alstom to Pay Record $772 Million in U.S. Bribery Settlement
Alstom SA pleaded guilty and agreed to pay a record $772 million to end a U.S. Justice Department investigation into bribes paid to win power-plant contracts in Indonesia and other countries, Bloomberg News reports.
The fine is the largest criminal penalty paid to the Justice Department under the Foreign Corrupt Practices Act.
Bloomberg News reports that Alstom Chief Executive Officer Patrick Kron said on Dec. 19 that the Levallois-Perret-based company will pay the fines connected to its energy businesses as its shareholders voted in favor of their sale to General Electric Co. GE agreed in June to buy most of the assets for $15.2 billion, GE’s biggest acquisition ever, and the purchase should close next year.
