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Thursday, September 20, 2018
The Court of Milan pronounced judgement in the criminal proceedings concerning offenses committed in Algeria. The Court has convicted, among others, some former managers of Saipem for international corruption and has ordered the company to pay the pecuniary sanction of €400,000, as it is held liable for the administrative offence pursuant to Articles 5, 6, 7 and 25 paragraphs 3 and 4 of Legislative Decree 231/2001, with reference to the offence of international corruption.
The former managers of the company convicted by the Court all left the company between 2008 and 2012.
The Court ordered, as alleged profit of the offense, the confiscation of the total sum of about €197 million for all the individuals sentenced. The Court also ordered, as alleged price of the offense, the confiscation of the total sum of approximately €197 million in respect of Saipem pursuant to Article 19 of Legislative Decree No. 231/2001.
As far as that which emerged during the trial and the requests of the Public Prosecutor, at present, a preventive seizure for a total amount of about €160 million has already been in place against some individuals – other than the company – all condemned with the ruling.
Saipem reserves the right to appeal the Court’s decision on the basis of the reasons underpinning the ruling, which will be filed within 90 days.
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