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☆ Abu Dhabi's ADNOC makes new bid for stake in Brazil's Braskem; shares soar
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai Acquire Licensing RightsSAO PAULO, Nov 9 (Reuters) - Brazilian petrochemical producer Braskem (BRKM5.SA) on Thursday said Abu Dhabi oil company ADNOC (ADNOC.UL) has presented a new non-binding offer to buy conglomerate Novonor's stake in the firm. The petrochemical company cited a letter exchange with Novonor in its filing. The conglomerate would be granted a minority stake of up to 3% in Braskem following the deal, Braskem added. ADNOC had previously presented a joint cash-and-debenture offer alongside U.S. asset manager Apollo (APO.N) for Braskem, with other bidders for the firm including Brazil's Unipar Carbocloro (UNIP6.SA) and J&F.

Persons: Toru Hanai, Braskem, ADNOC, Folha de S.Paulo, BTG, Pedro Soares, we're, Brazil's Unipar, Gabriel Araujo, Steven Grattan, Tomasz Janowski, David Evans Organizations: REUTERS, SAO PAULO, Petrobras, PETR4, Novonor's, Sao Paulo, Novonor, Folha de, ADNOC, U.S, Apollo, Thomson Locations: Gastech, Chiba, Japan, Abu Dhabi, Sao, Braskem

☆ Mubadala raises stake in Brazilian ethanol producer Atvos
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Oct 20 (Reuters) - Abu Dhabi state investor Mubadala Capital raised its stake in Brazilian ethanol producer Atvos, the latter said on Friday. Mubadala, through investment fund FIP MC Green, acquired the stake owned by Grupo Novonor, formerly known as Odebrecht, in the holding company that controls Atvos, representing about 6.85% of the firm's equity. Mubadala already had a direct stake of 31.5% in Atvos. In a statement, the sugarcane ethanol producer said it also aims to enter new markets, such as corn ethanol; biomethane from vinasse and sugarcane straw, in addition to producing sustainable aviation fuel. Reporting by Peter Frontini; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Atvos, Green, Mubadala, Peter Frontini, Leslie Adler Organizations: SAO PAULO, Mubadala, FIP, Grupo Novonor, Thomson Locations: Abu Dhabi, Atvos, vinasse

☆ Colombian Prosecutors to Charge 60 People With Graft Tied to Odebrecht Building Scandal
▼ + stars: | 2023-08-18 | by ( Kejal Vyas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/americas/colombian-prosecutors-to-charge-60-people-with-graft-tied-to-odebrecht-building-scandal-54cf4909

Persons: Dow Jones Locations: americas, colombian

☆ Colombian conglomerate Grupo Aval, subsidiary settle charges of violating US law
▼ + stars: | 2023-08-10 | by ( Kanishka Singh | Thomson Reuters | Kanishka Singh Is A Breaking News Reporter For Reuters In Washington Dc | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File PhotoWASHINGTON, Aug 10 (Reuters) - Colombian conglomerate Grupo Aval (GAA.CN) and its bank subsidiary will pay over $80 million to settle charges of violating anti-corruption laws, U.S. authorities said on Thursday. After the settlement was reached, Grupo Aval said the Justice Department did not bring any enforcement action and the SEC did not make a claim against the company for bribery. Corficolombiana will pay a criminal penalty of $40.6 million, the U.S. Justice Department said in a statement. Corficolombiana had conspired with Brazilian construction firm Odebrecht to pay bribes to Colombian government officials, according to prosecutors. Corficolombiana also agreed to continue enhancing its compliance program and providing reports to the Justice Department regarding remediation and the implementation of compliance measures, the Justice Department said.

Persons: Andrew Kelly, Grupo Aval, Corficolombiana, Odebrecht, Kanishka Singh, Isabel Woodford, Leslie Adler, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Grupo Aval, U.S . Foreign, U.S . Justice Department, Securities and Exchange Commission, SEC, Grupo, Justice Department, Odebrecht, U.S, Thomson Locations: Washington ,, Colombian, disgorgement, Swiss, Peru, Mexico, Argentina, Colombia, U.S, Washington

☆ Colombia ex-candidate Zuluaga violated law with funds from Odebrecht -AG
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +2 min

[1/3] Colombian presidential candidate Oscar Ivan Zuluaga casts his vote during congressional and presidential coalitions elections that will determine which candidates will head to the first round of presidential voting, in Bogota, Colombia March 13, 2022. Courtesy of Oscar Ivan Zuluaga Press... Read moreBOGOTA, June 13 (Reuters) - Former Colombia presidential candidate and minister Oscar Ivan Zuluaga violated the law when he received money from disgraced Brazilian construction firm Odebrecht, the Colombian attorney general's office said on Tuesday. It was not immediately possible to obtain comment from Zuluaga or Odebrecht. In 2014, Zuluaga met on several occasions with the former head of Odebrecht in Colombia, Eleuberto Antonio Martorelli, the prosecutor said. The alleged lies to the council led it to close an investigation into Zuluaga, the statement added.

Persons: Oscar Ivan Zuluaga, Read, general's, Odebrecht, Oscar Ivan Zuluaga Escobar, Zuluaga, Eleuberto Antonio Martorelli, Zuluaga's, David Zuluaga, Cecilia Elvira Alvarez, Julia Symmes Cobb, Nick Zieminski Organizations: Colombian, Oscar Ivan Zuluaga Press, U.S, Electoral Council, Odebrecht, Thomson Locations: Bogota, Colombia, BOGOTA, Colombian, Swiss, Latin America, Odebrecht, Brazilian, Panama, Zuluaga

☆ Panama ex-President Martinelli chosen as RM candidate for elections
▼ + stars: | 2023-06-05 | by ( Elida Moreno | ) www.reuters.com time to read: +1 min

PANAMA CITY, June 4 (Reuters) - Panama's former President Ricardo Martinelli was on Sunday chosen as the presidential candidate for his party Realizando Metas (RM) in next year's elections. Martinelli - along with his sons - is also charged in Panama for his alleged involvement in laundering millions of dollars in bribes from Brazilian construction company Odebrecht. "The only way to get me out of the presidential race is by impeachment ... they're going to have to kill me," Martinelli said. The Untied States has barred Martinelli from entering the North American country, with U.S. Secretary of State Antony Blinken accusing him of accepting bribes. Reporting by Elida Moreno Writing by Oliver Griffin Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Ricardo Martinelli, Realizando, Martinelli, Antony Blinken, Elida Moreno, Oliver Griffin, Shri Navaratnam Organizations: PANAMA CITY, U.S, Thomson Locations: PANAMA, Panama, American

☆ Peru's Toledo returns home to join two other former heads of state in jail
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] Peru's former President Alejandro Toledo walks with others after his arrival at the airport following his extradition to Peru, in Callao, Peru April 23, 2023. Toledo, president between 2001 and 2006, turned himself in on Friday for extradition. They have requested a 20-year prison sentence. Toledo, an economist by profession and with a doctorate from Stanford University in the United States, became the second former Peruvian president to be extradited. Fujimori was extradited from Chile and is serving a 25-year prison sentence for human rights abuses.

☆ Ex-Peru president Toledo surrenders to US authorities, extradition imminent
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

[1/3] A media member streams their news desk on their phone screen while reporting outside Robert F. Peckham Federal Building and U.S. Courthouse on the day Peru's former President Alejandro Toledo, wanted in his home country on charges of taking millions of dollars in bribes, is expected to turn himself in for extradition, in San Jose, California, U.S. April 21, 2023. REUTERS/Loren ElliottApril 21 (Reuters) - Former Peruvian President Alejandro Toledo surrendered to U.S. authorities on Friday, a U.S. Marshals Service official told Reuters, a day after his bid to block his extradition to Peru over corruption charges was denied. The former president was arrested in the United States in July 2019 after a formal request by Peru for his extradition.

WASHINGTON, April 20 (Reuters) - A U.S. federal judge in Washington on Thursday denied former Peruvian President Alejandro Toledo's bid to block his extradition to Peru, where he faces corruption charges. His lawyers had filed for an emergency stay earlier in the day to block his extradition, which was planned for Friday. "His emergency motion to stay is denied," U.S. District Judge Beryl Howell said in an order on Thursday. In her ruling, Howell said Toledo "has long been afforded substantial process" in the U.S. courts to contest his extradition. Howell, citing various legal factors, also said Toledo had failed to "demonstrate entitlement" to a stay of his extradition.

☆ U.S. court gives Peru's ex-President Toledo more time to fight extradition
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +1 min

April 7 (Reuters) - A U.S. court ordered a two-week pause on the extradition of Peru's former President Alejandro Toledo, wanted in his home country on charges of taking millions of dollars in bribes as part of a continent-spanning corruption case. The U.S. court of appeals based in San Francisco gave Toledo the 14-day reprieve in an order issued late Thursday, a day after a lower court and a panel of appellate court judges rejected an appeal by Toledo to stall his return to Peru. The pause will allow Toledo, 77, more time to petition judges to reconsider his case. Peru's president from 2001 to 2006, Toledo is wanted on charges he accepted more than $25 million in bribes from Brazilian construction company Odebrecht in exchange for help in obtaining public works contracts. Toledo was arrested in the United States in 2019, following a formal request by Peru's government for his extradition.

☆ Peru set to jail third ex-president as Toledo awaits extradition from U.S.
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

Peru's Justice Minister Jose Tello said on Wednesday night that a California court judge had ordered Toledo to turn himself in on Friday to the U.S. Marshals Service and await extradition after his request for bail was revoked. "Sooner rather than later, Toledo will answer to Peruvian justice," Tello told television station Canal N, adding that his extradition should take place in a "matter of days". The Peruvian minister said 77-year-old Toledo is expected to be held while he awaits trial in a jail complex in the outskirts of Lima that was built to hold former president Alberto Fujimori. Toledo was arrested in the U.S. in July 2019 following a formal request by Peru for his extradition.

Lula departs for China this weekend, but many executives and lobby groups have traveled ahead of the president, government officials said. JBS representatives said the company aims to bolster commercial ties with China, a key trading partner. In a statement, ABPA said they are seeking recognition from Beijing that Rio Grande do Sul and Parana are free of foot-and-mouth disease without vaccination, in order to export pork with bones and pork offal. China buys 44% of Brazil's pork exports by volume and around 14% of its chicken exports, according to ABPA data for the first two months of 2023. Some 62% of Brazil's beef exports went to China last year.

☆ U.S. agrees to extradite former Peruvian President Toledo, says Peru
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

LIMA, Feb 21 (Reuters) - Peru's attorney general's office said on Tuesday on Twitter that the U.S. State Department had agreed to extradite former Peruvian President Alejandro Toledo on corruption charges. Toledo, 76, was arrested in the United States in 2019 after Peru formally requested his extradition. Last August, the U.S. Department of Justice said it would return to Peru about $686,000 seized from Toledo. Federal prosecutors in the New York City borough of Brooklyn said Odebrecht had paid Toledo $25 million in bribes for highway construction contracts. Peru has faced a wave of corruption scandals related to the Odebrecht case in recent years.

☆ Guatemala summons ambassador in Colombia for consultations in defense minister tussle
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

GUATEMALA CITY, Jan 17 (Reuters) - Guatemala summoned its ambassador in Colombia for consultations, Guatemala's foreign ministry said on Tuesday, a day after Colombia did the same in regard to a conflict over Colombia's defense minister. Guatemala on Monday accused Colombian Defense Minister Ivan Velasquez, who led a United Nations anti-corruption unit in the Central American country, of committing illegal acts. Colombian President Gustavo Petro came out to defend the minister, saying he would not accept any "order for the arrest" of Velasquez. Guatemalan President Alejandro Giammattei told Spanish news agency EFE on Tuesday that Velasquez was not facing "criminal prosecution." Arrest warrants were issued for several others as part of the investigation, including former Guatemalan Attorney General Thelma Aldana.

☆ Panama ex-President Martinelli to stand trial on money laundering charge
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] Panama's former president Ricardo Martinelli is escorted by police officers and supporters while leaving a courthouse after being declared not guilty of spying charges in Panama City, Panama August 9, 2019. Martinelli's cap reads, "I survived Varela", referring to Panama's former president Juan Carlos Varela. REUTERS/Erick MarciscanoPANAMA CITY, Dec 9 (Reuters) - A Panamanian judge summoned former President Ricardo Martinelli to stand trial for a money laundering charge, investigators said on Friday. This is the second trial against Martinelli announced this year, and he is expected to testify in both in 2023. Martinelli and his sons, Luis and Ricardo, are also charged in Panama for their alleged involvement in laundering millions of dollars in bribes from Brazilian construction company Odebrecht.

☆ Factbox: Peru's presidents and years of political turmoil
▼ + stars: | 2022-12-07 | by ( Marco Aquino | ) www.reuters.com time to read: +4 min

[1/2] Police officers stand before people protesting after Congress approved the removal of President Pedro Castillo, in Lima, Peru, December 7, 2022. Here is a rundown of Peru's recent political turmoil. Kuczynski initially denied any ties to Odebrecht, a company at the heart of a political corruption probe that swept the whole region. OLLANTA HUMALA (2011-2016)Humala is facing trial over allegations he received $3 million from Odebrecht during the 2011 presidential election campaign. A charismatic political leader who served two terms, Garcia repeatedly denied the allegations of bribery.

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