Alstom to Pay $772 Million to Settle Bribery Charges

By Brent Kendall and Joel Schectman 

WASHINGTON--French engineering giant Alstom SA agreed to pay $772 million to settle accusations that it paid millions of dollars in bribes to win energy contracts, prosecutors said on Monday.

That amount represents the largest-ever criminal penalty the U.S. Department of Justice has gotten from a company on bribery-related charges. The settlement comes after more than six years of investigations into Alstom from law enforcement in the U.S., Switzerland and Indonesia.

The record criminal penalty in part reflects what prosecutors saw as an initial failure of the company to fully cooperate, according to people familiar with the matter.

U.S. authorities have ramped up overseas bribery enforcement in recent years, often investigating foreign companies that have a subsidiary located within the U.S. The Foreign Corrupt Practices Act makes it a crime to bribe a government official in exchange for business.

Access Investor Kit for Alstom SA

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=FR0010220475

Subscribe to WSJ: http://online.wsj.com?mod=djnwires