June 8, 2018 |
As far as corporate scandals go, it is hard to top Odebrecht. The Brazilian construction firm admitted in December 2016 to paying some $788 million in bribes in 12 countries over 15 years. As more details have come to light, many current and former government officials in Latin America have been brought down by corruption charges.
Since admitting guilt, Odebrecht has sought to sell assets, even if the company is not likely to pocket all the proceeds as punishment for its misdeeds.
For example, Odebrecht agreed in August 2017 to sell the Chaglla hydro power facility in Peru to a consortium led by China Three Gorges (CTG). But the $1.4 billion transaction has not closed because the Peruvian
A far-reaching bribery scandal has shifted the landscape of M&A in Latin America. Now the sale of Peru's Chaglla hydropower plant is in danger of collapsing.