The Office of Institutional Integrity of the Inter-American Development Bank (IDB) Group announced today a settlement agreement with Odebrecht S.A., Odebrecht Engenharia e Construção S.A., and CNO S.A., whereby the companies recognize CNO’s involvement in prohibited practices in two IDB-financed projects, which contradict the institution’s policies. 

Odebrecht Engineering & Construction (OEC), together with part of its investors, has announced an agreement on the terms and conditions of the restructuring of its international bonds.

On July 22, OEC – Odebrecht Engineering & Construction, through the BH Health Concessionaire, signed a Public-Private Partnership (PPP) contract with the City of Belo Horizonte and began the construction of 40 health centers in the capital of Minas Gerais, an investment of approximately R$ 215 million. The first unit should be ready by December this year.

On July 6th, Laúca Hydroelectric Plant’s fifth generator initiated commercial operation, reaching a capacity of 1,670 MW. With this installed capacity, Laúca surpasses the sum of Capanda (520 MW) and Cambambe (960 MW), until recently the main hydroelectric power plants of Angola.

All the documents and testimonies about events that happened in the past, including the complete database of the Drousys and My Web Day systems of the former Structured Operations sector, have been in the possession of the Brazilian Federal Public Prosecutor's Office (MPF) and the Department of Justice (DOJ) for three years. In other words, they are available to the countries that have concluded leniency agreements with Odebrecht and have completed the homologation process. This is a procedure adopted by justice systems worldwide.

The Peruvian justice system approved on Wednesday (19/06) the definitive agreement with Odebrecht that establishes the basis for the company's continued cooperation with the country's justice system.

For the Odebrecht Group this is another important milestone within a broad process of collaboration with the authorities of several countries, which has already brought effective results, helping to foster structural advances in the relationship between private and public initiative.

With respect to Odebrecht S.A.'s (“ODB”) filing for court-supervised reorganization, presented on Monday (17/06), the company has publicly informed that “the following companies are not included in the scope of the court-supervised reorganization: Braskem S.A., Odebrecht Engenharia e Construção S.A., Ocyan S.A., OR S.A., Odebrecht Transport S.A., Odebrecht Defesa e Tecnologia S.A. and Enseada Industria Naval S.A.

On May 8, the Ethos Institute, FGVethics and IFC, a member of the World Bank Group, launched a joint action to promote the strengthening of the infrastructure sector in Brazil and the construction of the bases for its self-regulation. OEC participated in the event as one of the signatory companies of the initiative.

On May 8, the Ethos Institute, FGVethics and IFC, a member of the World Bank Group, launched a joint action to promote the strengthening of the infrastructure sector in Brazil and the construction of the bases for its self-regulation. OEC participated in the event as one of the signatory companies of the initiative.