01:29:52 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2023-05-31 C$ 31.70
Market Cap C$ 5,565,069,788
Recent Sedar Documents

Globe/CP say SNC not the only one offered bribery deal

2023-06-01 08:33 ET - In the News

The Globe and Mail reports in its Thursday edition that a Quebec forensics company promised millions of dollars in bribes to officials in the Philippines, including a cabinet minister and his brother, as it sought lucrative police contracts, according to a statement of facts attached to a deal the firm struck to avoid prosecution in Canada. A Canadian Press dispatch to The Globe says the deal between Ultra Electronics Forensic Technology Inc. and federal prosecutors has been approved by the Superior Court of Quebec and is Canada's second remediation agreement -- also known as deferred prosecution -- since the mechanism was added to the Criminal Code in 2018 to address corporate wrongdoing. The other deal was struck between Quebec prosecutors and SNC-Lavalin over corruption in its contract to refurbish the Jacques Cartier Bridge in Montreal. The latest agreement requires the Montreal firm to pay $10.5-million, co-operate with investigations, report to prosecutors about implementing the agreement, and abide by an anti-bribery and corruption program overseen by an external auditor hired at the firm's expense. The court approved the deal with Ultra back in February but it was not until May 16 that it released the ruling.

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