Ballast Nedam Reaches €17.5M Deal Over Bribery Allegations

Law360, New York (December 21, 2012, 1:37 PM EST) -- Dutch construction and engineering company Ballast Nedam NV on Friday said it has reached a deal worth €17.5 million ($23 million) with the Netherlands’ public prosecution service to settle allegations that the company bribed foreign parties.

Ballast Nedam and Dutch officials issued parallel statements saying the company will pay the public prosecutor €5 million and will forgo €12.5 million worth of tax claims.

In 2009, Dutch authorities requested tax information from Ballast Nedam for the years 1998 through 2001. Later in 2011, the company came forward...
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