ABB Agrees to Pay $315 Million to End Africa Bribe Probe (1)

ABB Ltd., a Swiss industrial company, agreed to pay $315 million to resolve a multinational investigation into bribery of a high-ranking official at Eskom Holdings SOC Ltd., the South African state-owned power utility, the US Justice Department said Friday.

ABB bribed the Eskom official between 2014 and 2017 to corruptly obtain confidential information and win lucrative contracts, Assistant Attorney General Kenneth A. Polite Jr. said in a statement. ABB engaged subcontractors associated with the official and made payments intended, “at least in part, as bribes,” the statement said. “ABB worked with these subcontractors despite their poor qualifications and ...