Alstom nears settlement with US Justice Department

Alstom looks set to pay $700m to the US Justice Department as early as next week by way of settlement for a case involving the equipping of a power plant in Indonesia.

The justice department probe was focused on a $118 million contract to provide boiler services at a power plant in Tarahan, on the southern coast of Sumatra.

According to court papers filed by the department, Alstom executives, together with Marubeni Corp., used middlemen to funnel hundreds of thousands of dollars to a member of Indonesia’s parliament and officials at Perusahaan Listrik Negara PT, a state-controlled electricity company known as PLN.
Alstom
Meanwhile a second Alstom unit will be charged by the SFO before year-end with corruption tied to work in Lithuania, Bloomberg reported last month.

GE will be relieved the settlement is in the offing as it recently purchased the French-based power equipment manufacturer for $15.6bn



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