ABB near $325M settlement to resolve bribery allegations, WSJ reports

ABB is nearing a deal to pay around $325M to resolve bribery allegations in South Africa, Dylan Tokar of Wall Street Journal reports, citing people familiar with the matter. The pending settlement between ABB and U.S., German, Swiss and South African authorities is expected to be finalized as soon as next week and would resolve corruption investigations into the company’s work on South Africa’s Kusile power plant, people familiar with the matter told the Journal. Reference Link