May 22, 2018 / 2:13 PM / a month ago

Marfrig chairman signs pact to cover damages in Brazil corruption probe

SAO PAULO, May 22 (Reuters) - Brazilian meatpacking firm Marfrig Global foods SA said on Tuesday its chairman has signed an agreement with federal prosecutors aimed at covering any potential damages arising from an ongoing corruption investigation.

The so-called “Cui Bono” probe covers alleged irregularities in the approval of loans from federal savings bank Caixa Economica Federal to meatpacking, finance, toll road and real estate firms between 2011 and 2013.

“The agreement is not a plea deal or collaboration, and it does not imply an admission of guilt,” according to a Marfrig statement on Tuesday, referring to the document signed by Chairman Marcos Molina dos Santos.

The company said it was exempt from making any payments stemming from Santos’ agreement with the prosecutors, suggesting that Santos would be personally responsible for any payments. The company said the move did not affect its business. (Reporting by Ana Mano; Editing by Bernadette Baum)

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