Keppel Unit to Pay $422 Million to Settle Bribery Probe

Mony
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Singaporean shipyard firm Keppel Offshore Marine Ltd. agreed to pay $422 million to resolve a foreign bribery investigation involving authorities on three continents.

The company, a unit of conglomerate Keppel Corp., entered into a deferred prosecution agreement with U.S. authorities charging the firm with conspiracy to violate the Foreign Corrupt Practices Act, which bars the use of bribes to foreign officials to get or keep business. It also reached related settlements with Brazilian and Singaporean authorities, U.S….

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