© Reuters. Mexico bans Brazil’s Odebrecht from participating in federal contracts

MEXICO CITY (Reuters) – Mexico has prohibited scandal-plagued Brazilian construction conglomerate Odebrecht SA from participating in public federal contracts, Mexico’s public administration ministry said on Friday.

State-owned entities, such as oil firm Pemex, are banned from entering into a contract with Odebrecht or receiving proposals from the firm for three years, the ministry said in a statement.

Odebrecht did not immediately respond to a request for comment.

The construction firm has been at the center of one of the world’s largest corruption scandals for paying billions of dollars in bribes across Latin America in exchange for public-works contracts.

Mexico last year banned federal institutions and state governments from doing business with Odebrecht for 2-1/2 years, but has not brought criminal charges against the company.

Friday’s statement did not address the previous ban, but the public administration ministry said Odebrecht’s Mexico subsidiary had provided false information in fulfilling a construction contract, and that Odebrecht’s Construtora Norberto unit had overcharged Pemex.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link