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BRIEF-SNC-Lavalin Group Settles Federal Charges Arising From Legacy Activities In Libya Between 2001-2011

Published 2019-12-18, 11:55 a/m
BRIEF-SNC-Lavalin Group Settles Federal Charges Arising From Legacy Activities In Libya Between 2001-2011
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Dec 18 (Reuters) - SNC-Lavalin Group Inc SNC.TO :

* SNC-LAVALIN GROUP SETTLES FEDERAL CHARGES

* SNC-LAVALIN GROUP INC - FEDERAL CHARGES ARISING FROM LEGACY ACTIVITIES IN LIBYA BETWEEN 2001 AND 2011 HAVE BEEN SETTLED

* SNC-LAVALIN GROUP INC - AS PART OF SETTLEMENT, SNC-LAVALIN CONSTRUCTION INC. WILL PAY A FINE IN AMOUNT OF $280 MILLION

* SNC-LAVALIN GROUP - COURT OF QUEBEC ACCEPTED PLEA OF GUILTY FROM SNC-LAVALIN CONSTRUCTION INC TO A SINGLE CHARGE OF FRAUD

* SNC-LAVALIN - ALL CHARGES AGAINST SNC-LAVALIN GROUP AND ITS INTERNATIONAL MARKETING ARM, SNC-LAVALIN INTERNATIONAL INC., HAVE BEEN WITHDRAWN

* SNC-LAVALIN GROUP INC - SNC-LAVALIN CONSTRUCTION INC WILL BE SUBJECT TO A THREE-YEAR PROBATION ORDER

* SNC-LAVALIN GROUP INC - SNC-LAVALIN GROUP INC WILL ENGAGE AN INDEPENDENT MONITOR WHO WILL PROVIDE INITIAL AND ANNUAL REPORTS

* SNC-LAVALIN GROUP INC - WILL MAKE ANY CHANGES TO ITS COMPLIANCE AND ETHICS PROGRAMS THAT ARE IDENTIFIED BY INDEPENDENT MONITOR AND ARE REQUIRED

* SNC-LAVALIN - DOES NOT ANTICIPATE THAT GUILTY PLEA BY CONSTRUCTION UNIT WILL AFFECT ELIGIBILITY OF CO TO BID ON FUTURE PROJECTS

* SNC-LAVALIN GROUP - DOES NOT ANTICIPATE THAT GUILTY PLEA BY CONSTRUCTION UNIT WILL HAVE ANY LONG-TERM MATERIAL ADVERSE IMPACT ON CO'S OVERALL BUSINESS

* SNC-LAVALIN GROUP INC - FINE OF $280 MILLION WILL BE PAYABLE IN EQUAL INSTALMENTS OVER 5 YEARS

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