Embraer presented this Monday (1), in a clarification sent to the Securities and exchange Commission (CVM), the reason for not communicating with a relevant fact, the agreement made with the Prosecutor General of the Dominican Republic (PGRD).
In the agreement, the brazilian manufacturer agreed to pay US$ 7.04 million by the end of the charges for violation of local laws, linked with a transaction the commercial for the sale of the aircrafts of Air force of the country.
Embraer pays$ 7 million to the Dominican Republic with the agreement
“The action proposed by the PGRD implied the possibility of punishment in value that is not detected the importance of the financial,” answered the Embraer of the CVM. “The value and extent of the obligation effectively undertaken in accordance with the PGRD also are not important in the context of the activities of Embraer,” said the airline.
The Super Tucano by Embraer. — Photo: Handout / Embraer
The request for clarification of the CVM was done after the Embraer confirmed the news released on Friday (28) according to which the justice dominican was condemned to Embraer of US$ 7 million to pay tuition fees.
In addition to the payment of US$ 7.04 million to the dominican state, Embraer will keep cooperation ongoing by the PGRD in your research.
Embraer noted that, on 24 October 2016, the company had discovered a material fact to inform that it has concluded an agreement for the definitive with the Department of Justice of the United States (Doj), the securities and exchange commission (SEC) and the New York Stock exchange (Nyse) to resolve allegations of violations of criminal law and civil law anti-corruption laws of the United States (FCPA).
The manufacturer has also taken in the case of a term of commitment to adjustment of conduct (CSCW) with the Federal Public Ministry (MPF) and the brazilian Commission of Securities (CVM) for the resolution of allegations of non-compliance with certain laws.
Therefore, according to Embraer, the facts recognized in accordance with the PGRD dominican this year “was already known in the Agreements, the Final, and in CSCW, in 2016, and has failed to disclose an innovation that was not already public and known in the market”.
Between the channels to be accepted in the Final Agreement, and in CSCW, in 2016, Embraer had been that I have promised and paid to a public official in the Dominican Republic in the total value of US$ 3,52 million, with a view to obtaining a contract of purchase and sale of eight aircraft Super Tucano to the Air Force of the Dominican Republic.