Argentina bans Brazil’s Odebrecht from new projects for 12 months

BUENOS AIRES (Reuters) – Argentina’s government has banned Brazilian builder Odebrecht SA from bidding on public works projects for 12 months, a spokesman for the interior ministry said yesterday.

The company, which admitted in a settlement with US and Brazilian prosecutors to paying bribes in 12 countries including Argentina, can continue to operate current projects, the ministry spokesman said in a telephone interview.

An Odebrecht spokesman said the company had not formally been notified of the suspension and was preparing a press statement.

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