World Bank Blacklists Alstom Units Over Potential Bribes

Law360, New York (February 23, 2012, 8:13 PM EST) -- The World Bank said Wednesday that it was temporarily barring two Alstom SA units from receiving a contract from the institution and forcing them to pay back $9.5 million in connection with potential bribes related to an African hydrowater project.

Under a negotiated resolution agreement with the bank, Alstom Hydro France, Alstom Network Schweiz AG and their affiliates are blacklisted from World Bank contracts for three years.

The two units made an improper €110,000 ($146,685) payment to an entity run by a former senior government official...
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