SBM Jumps Most in Nine Months Following Brazilian Leniency Deal

SBM Offshore NV, a Dutch oil-services provider, rose the most in nine months in Amsterdam trading after reaching a leniency deal with Brazilian authorities following a corruption investigation.

SBM climbed as much as 15 percent Monday, the biggest intraday gain since Sept. 28 and the most among companies on the Stoxx Europe 600 Oil & Gas Index.

The company is free to resume business with oil producer Petroleo Brasileiro SA after agreeing to a civil fine of $163 million and a cut in bonus payments on one of its vessels of about $112 million, the prosecutors’ office said July 15. SBM will take a first-half provision of $30 million related to the deal, Dutch newswire ANP reported.

 SBM was accused of a “pay-to-play” scheme in which company representatives allegedly bribed Petrobras employees to be favored in oil-platform bids.

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