the Court Supervised Reorganization Plan of Odebrecht SA, its parent companies Kieppe and ODBinv and most of its non-operating subsidiaries was homologated by the Judge of the 1st Bankruptcy and Court Supervised Reorganization from Sao Paulo.
The U.S. Department of Justice (DoJ) and the Securities and Exchange Commission (SEC) recognized advances in compliance processes, completing the external monitoring of the company.
The General Meeting of Creditors approved the Court-Supervised Reorganization Plan of Odebrecht S.A. and 11 other controlled or controlling companies. To learn more,click here.
The closure attests to the improvements achieved by the company’s Compliance Program.
Odebrecht discloses new Policy on the Compliance System and Code of Conduct
Ruy Sampaio assumes the position of Chief Executive Officer of Odebrecht S.A.
The new name of Odebrecht Insurance Broker (OCS) reflects the essence of our operations, which goes beyond merely providing insurance brokerage services and involves a more comprehensive approach to risk management, which includes structuring and managing insurance programs.
All Odebrecht S.A. members attend a money laundering prevention training. This is the sixth compliance training the company has conducted since it has implemented a structured program.
The Office of Institutional Integrity of the Inter-American Development Bank (IDB) Group announced today a settlement agreement with Odebrecht S.A., Odebrecht Engenharia e Construção S.A., and CNO S.A.. As a result, it was agreed a contribution of US$ 50 million, to be paid starting in 2024, to NGOs and social projects that support improvement of the quality of life of vulnerable communities in the IDB’s developing member countries.
The Peruvian justice system approved the definitive agreement with Odebrecht that establishes the basis for the company’s continued cooperation with the country’s justice system. Learn more.
Odebrecht S.A., jointly with its parent companies and certain subsidiaries, filed for court-supervised reorganization. Both the operational and auxiliary companies and ODB itself will continue to operate normally, focusing on the common goal of ensuring their financial stability and sustainable growth to preserve their social purpose of maintaining and creating jobs. Learn more.
Odebrecht Latinvest announced its new brand. With the change in its name and logo, the company – now called OLI – underscores the process of renovation it has been going through in recent years. Learn more.
Odebrecht TransPort is now OTP, marking its positioning as an investor in highway concessions, urban mobility and logistics projects. Learn more.
In the year that it completes 75 years of existence, Odebrecht Engineering & Construction is announcing the renewal of its brand, adopting the initials “OEC”. Learn more.
All team members of Odebrecht S.A. participated in a training course on antitrust laws, which addressed topics such as the work of antitrust authorities in Brazil, anticompetitive conduct and information for conducting business with integrity and transparency. The meeting is part of the training program on compliance of Odebrecht S.A., which aims to ensure that all team members conduct their business activities ethically.
Odebrecht Latinvest, Odebrecht Group subsidiary dedicated to infrastructure concessions in Latin America, concluded the sale for US$ 1.4 billion of the Chaglla Hydroelectric Plant in Peru to China Three Gorges Corporation (CTG). The conclusion of the sale is an important step in our divestment program in Peru for ensuring our financial equilibrium. Learn more.
After signing two preparatory agreements in recent years, Odebrecht and the Peruvian Government formalized the final agreement that establishes the foundation for the continuity of the company’s cooperation with the country’s justice system.
The World Bank has announced agreement with Construtora Norberto Odebrecht S.A. (CNO) by which the company does not dispute its participation in practices against the Bank related to a basic sanitation project in Colombia, not executed by CNO. As a result, Construtora Norberto Odebrecht S.A. cannot participate in new projects financed by the World Bank for three years. Learn more.
Eletrobras announced to the market that it has joined the Leniency Agreement signed by the Ministry of Transparency and the Controller General’s Office (CGU) with Odebrecht, with the Attorney General’s Office (AGU) acting as the intervening party. By joining the agreement, Eletrobras will receive R$161.8 million, which is part of the amounts already agreed with the Federal Prosecution Office (MPF), CGU and AGU, when Odebrecht undertook to pay R$2.7 billion to the Federal Government and state-owned companies for acts of corruption unearthed by Operation Car Wash.
Odebrecht signs agreement with the Federal Prosecution Office and the Office of the Attorney General of Peru. The agreement is the most important milestone in a comprehensive and in-depth process of collaboration with authorities in that country.
Odebrecht S.A. has announced the hiring of João Pinheiro Batista Nogueira to serve on its Board of Directors. He is the fifth independent board member. João’s arrival will reinforce and contribute to the Odebrecht Group’s strategy. Learn more.
Brazil’s antitrust authority CADE has approved six consent decrees (TCC) signed with Odebrecht Engenharia e Construção, by which the company undertakes to pay up to R$578 million for antitrust practices in public bid processes. Odebrecht is the first company to sign leniency agreements with four federal agencies within the scope of Operation Car Wash: the Federal Prosecution Office, the Attorney General’s Office, the Federal Controller General and CADE.
Members of the Global Advisory Council were in São Paulo for the second straight year to participate in a series of seminars and meetings with Odebrecht leaders. The central theme of their agenda was improving the Strategic Direction for 2019-21 of Odebrecht S.A. and the Group. Watch the testimonials of members of the Global Advisory Council.
Team members of Odebrecht S.A., the holding company of the Odebrecht Group, and Odebrecht Corretora de Seguros, successfully concluded the training program on conflict of interests. The online training conducted during August provided the teams with knowledge to identify possible conflicts of interests and ensure that they do not occur in the work environment.
Odebrecht S.A. and some of its subsidiaries (Atvos, Braskem, Ocyan, Odebrecht Engenharia & Construção and OR) signed the “Letter of Commitment to the Business Movement for Integrity and Transparency,” an initiative by the Ethos Institute in partnership with the UN Global Compact and Transparency International. The goal of the initiative, which includes another 35 companies operating in Brazil, is to engage business leaders in the agenda of integrity, with a special focus on improving public-private relations and strengthening measures to prevent and combat corruption in Brazil.
Odebrecht S.A. signed a leniency agreement with the Ministry of Transparency, the Comptroller General’s Office (CGU) and the Attorney General’s Office (AGU) to the value of BRL 2.7 billion (approximately US$ 700 million). This agreement legally strengthens the Odebrecht leniency enabling the company to sign contracts with the federal administration in Brazil and, among other benefits, contributes to the recovery of the Brazilian infrastructure market. Learn more.
Odebrecht S.A. has announced that it will replace practically the entire Board of Directors and will include a majority of independent directors drawn from the market, bringing greater diversity to the Board. The format of the new Board confirms the governance model that Odebrecht has been implementing since 2016, with a clear segregation of the role of shareholders and the management structure of Odebrecht. More.
Odebrecht S.A., the holding company of the Odebrecht Group, entered into a financial agreement with five Brazilian banks to raise R$2.6 billion while rolling over shorter-dated liabilities at lower interest rates. Learn more.
Operating with a strong focus on sustainability means serving society by fostering sustainable development and generating positive results for everyone, today and in the future. The new Sustainability Policy of Odebrecht S.A. establishes six commitments that guide our actions. Learn more.
Odebrecht is one of nine Brazilian companies to attain the highest score on the transparency of our Anti-Corruption Program in a study conducted by the NGO Transparency International of Brazil’s 100 largest companies and 10 largest banks. Learn more.
Odebrecht signs an agreement with the Guatemalan Justice and reinforce its commitment to collaborate fully with the investigations to clarify the company’s participation in acts practiced in the past.
The Risk Management Policy presents concepts and guides team members on the need to evaluate the business environment, enhance decision-making processes and strengthen internal controls. Learn more.
Publication of the new People Policy of Odebrecht S.A., which highlights the importance of diversity, dialogue and self-development for the Group’s team members.
Odebrecht Oil & Gas, a company specializing in services for the oil and gas industry, has changed its name to Ocyan and has gained a new visual identity while strengthening its industry positioning.
Emílio Odebrecht announces he is stepping down as Chairman of the Board of Odebrecht S.A., at the close of the Group’s Annual Meeting in April, when he will address the 200 leaders of the Businesses, Holding Company and Foundation, as well as the Directors and Shareholders’ Representatives.
Founded 10 years ago, Odebrecht Agroindustrial changes its name and ratifies its long-term strategy for investing in the industry. With the name of Atvos, the new brand is aligned with the company’s planning for the coming years, which includes the need for new investments to support growth and to surmount the new challenges in the sugar and ethanol industry. Learn more.
The Chairman of the Board of Odebrecht S.A., Emílio Odebrecht, announces a series of decisions by the controlling shareholder to strengthen the Group’s new governance model. Among the new directives, the office of chief executive officer of Odebrecht S.A. no longer is held by a member of the Odebrecht family, may not be held by someone over age 65 and is chosen by the chairman of the board from among the officers of the holding company.
The sale of Embraport to DP World by Odebrecht TransPort is part of the strategic restructuring plan of the company, which continues to reevaluate its presence, partial or none, in the asset portfolio.
A leading Brazilian builder that has delivered more than 80 real estate projects over the past ten years, Odebrecht Real Estate Developments changes its name to OR, reformulating its identity and launching the new OR brand.
Conduct of anti-corruption training and the Policy on Compliance with Ethical, Integrated and Transparent action for all members of Odebrecht S.A.
Seminar in which 180 of the group’s business leaders and members of the Global Advisory Council discussed ethics and integrity the role of companies in challenging environments while upholding integrity, high ethical standards, and transparency.
Braskem commemorates its 15th anniversary as an increasingly globalized company that is recognized by clients in some 100 countries on all continents. To reflect on this journey, the company adopts a new brand that symbolizes the continuity of its global expansion cycle. Learn more.
In order to better adapt to the reality of the different markets, Odebrecht S.A. provides more autonomy to its businness, which can now make decisions regarding brand positioning, entry of new partners and even opening of capital.
The agreement includes the payment of up to US$ 220 million in fines, showing that the company remains willing to collaborate with the authorities of the countries in which it operates.
Odebrecht TransPort signed an agreement for the sales of its interest in the concessionaire RIOGaleão, which is responsible for Tom Jobim International Airport in Rio de Janeiro. The divestment is part of the company’s strategic restructuring plan that was approved by the Board of Directors.
Three new independent members were added to the Company’s Board of Directors. With these elections, the Board of Directors of Braskem will now have seven members, of a total of eleven. Read more.
João Pinheiro Nogueira Batista assumes as the first independent board member of Odebrecht Engineering & Construction, reaffirming the company’s commitment to the renewal of business practices. Read more.
Odebrecht signs Cooperation Agreement with the Attorney General of Ecuador to clarify the facts presented through a complaint about corruption in the country. Read more.
OOG begins the process of restructuring its debt by filing a request for Extrajudicial Recovery to the Justice of Rio de Janeiro. Read more.
In order to ensure greater security and anonymity regarding the complaints received, Odebrecht outsources the operations of the Ethics Line to a specialized and independent company. Read more.
Luciano Guidolin assumes the position of Chief Executive Officer of Odebrecht SA with the objective of continuing the business restructuring initiated in the previous management and taking the company back to a new growth cycle. Read more.
Completion of the sale process of Odebrecht Ambiental, the largest private sanitation company in Brazil. The sale is part of agreements totaling R $ 2.5 billion to increase liquidity and guarantee cash flow. Read more.
Odebrecht signs Leniency Agreement with the Attorney General of the Dominican Republic, collaborating with the promotion of transparency in its actions.
Under the terms of the agreement with the Federal Public Prosecutor’s Office and the US Department of Justice, Odebrecht hires an independent external compliance monitor for a period of up to three years, during which it will continue to improve its Compliance System. Read more.
Alexandre Figliolino assumes as independent Board Member at Odebrecht Agroindustrial. The measure is part of the goal adopted in 2016, which consists of having 20 percent (but not less than two) independent members of the Boards of Directors.
Enseada Naval Industry filed an Extrajudicial Recovery request to restructure the company’s debt to creditors. The measure gives more comfort and security to customers, investors and suppliers.
Odebrecht recognizes its mistakes, apologizes and assumes a new commitment to continue on the path of acting ethically with integrity and transparency. Read our apologies letter.
Odebrecht S.A. signs a Leniency Agreement with the Brazilian Federal Prosecution Office, the U.S. Department of Justice and the Swiss Office of the Attorney General. The agreement includes cooperation in investigations, payment of fines and extensive remedial measures to correct compliance failures. Read more.
Odebrecht S.A. adheres to the Corporate Pact for Integrity and Against Corruption, an initiative of the Ethos Institute of Companies and Social Responsibility, committing itself to disseminate anti-corruption legislation to members and stakeholders, besides being monitored annually to ensure the application of the principles of the pact.
Formed by the CCOs of the Group companies, the committee meets monthly to exchange experiences and accelerate the implementation of new policies and ensure the effectiveness of ethical practices.
Odebrecht S.A.’s Board approves the new Policy on Compliance in Acting Ethically with Integrity and Transparency. The process established a Compliance Governance in all of the Group companies, with specific adjustments for each case.
Odebrecht has concluded the sale of the Corredor do Senandes Wind Power Complex, located in the city of Rio Grande, Rio Grande do Sul The sale is aimed at recycling the Group’s capital, strengthening its cash position and reducing the consolidated debt.
Created to support the governance, strategic direction and development of the Group companies in areas such as purpose, corporate citizenship and sustainability, the Global Council is composed of recognized leaders from Brazil and countries with business experience, civil society organizations, academic research and multilateral and governmental institutions.
The kickoff of a “commitment of all and each one of the members of the Odebrecht Group companies”, genuinely, as a conviction happened in a seminar with approximately 170 members of the Holding and all the Businesses, also proposed and coordinated by the Odebrecht S.A.’s Board Compliance Committee, when the “Our Commitment To Acting Ethically, With Integrity And Transparency” was achieved and expressed in 10 Principles. Read the Odebrecht Commitment.
Changes in the change in the Governance Policy determined:
– At least 20% of the members of the Boards of Directors (but not less than two) must be considered Independent;
-Creation of a Permanent Compliance Committee, at the Odebrecht S.A.’s Board of Directors, and at the Businesses;
-Direct linkage of Compliance Officers to Compliance Committees.
Odebrecht take the decision to collaborate on a permanent basis with the investigations under Operation Car Wash. The public announcement also called for rigorous and transparent practices in our relationships with the public sphere, among other directives. Read the statement
