May 19 Investment management firm EIG Management Co added Brazil’s engineering conglomerate Odebrecht SA and a few other shipyards in its $221 million fraud suit against Petroleo Brasileiro SA.
EIG, in a filing on Wednesday, alleged that Odebrecht SA and other shipyards along with Petrobras misled the firm to invest over $221 million to purchase equity in now-bankrupt Sete Brasil Participacoes SA. (1.usa.gov/1U0JWXs)
The other shipyards mentioned in the filing by EIG and eight of its managed funds include Keppel Corporation Ltd, Sembcorp Marine Ltd and Jurong Shipyard Pte Ltd.
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