Finmeccanica settles with Italy prosecutors to end Indian chopper deal probe
MILAN (Reuters) - Italy's Finmeccanica said on Tuesday it had reached a agreement with prosecutors to settle legal proceedings over a high profile helicopter contract between one of its units and India, adding this did not equal an acknowledgment of any wrongdoing.
India cancelled the 560 million euro ($750.85 million) order with Finmeccanica unit AgustaWestland for 12 top-end helicopters in January, citing a breach of integrity relating to alleged corruption.
Finmeccanica said prosecutors had discontinued investigations into the contract and AgustaWestland would apply to the court for a negligible fine.
It added: "This decision is not in any way an admission of any wrongdoing or liability".
It said the decision was taken "in light of the reorganization underway within the Finmeccanica Group, to refocus energies on business and market opportunities globally."
($1 = 0.7458 Euros)
(Reporting by Agnieszka Flak)
- Tweet this
- Share this
- Digg this
- Pistorius starts five-year term for killing Reeva Steenkamp
- Indiana police charge suspect who may have killed for decades
- UPDATE 11-Total CEO de Margerie killed in Moscow as jet hits snow plough
- India warns Pakistan of more pain in Kashmir fighting
- Govt orders Financial Tech to absorb NSEL, liabilities
As well as making the lives of millions of middle class Indians easier, the sharp drop in Brent crude prices since June is a boon for Prime Minister Narendra Modi in his fight to revive an economy growing at its slowest rate since the 1980s. Full Article
Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders. Full Article