Brazil, Odebrecht sign leniency deal

Odebrecht SA has signed a plea bargain agreement with Brazilian prosecutors in which as many as 77 of the engineering group’s executives would testify about widespread political graft, Folha de S. Paulo newspaper said on Thursday.

According to the newspaper, which did not say how it obtained the information, the much-anticipated deal between Odebrecht and prosecutors investigating Brazil’s biggest corruption scandal could allow the company to return to bid for public works. Under terms of the agreement, Odebrecht could pay as much as 8.6 billion reais ($2.5 billion) in fines, including interest, over the next 20 years, Folha said.

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