The German engineering company Ferrostaal has been fined US$183 million (Dh672.2m) in a bribery case that ends its involvement in a two-year corruption investigation.
The penalty was part of a judgement in a Munich court this week that found two former employees guilty of paying bribes to win contracts.
Ferrostaal was majority-owned by Abu Dhabi's International Petroleum Investment Company (Ipic) until last month. Commodore Contracting, an Abu Dhabi construction company, has a 25 per cent stake in Ferrostaal's new owner, MPC Industries.
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