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Norway fines Yara for corrupt payments related to Libya, India expansions

7:50 AM MST | January 15, 2014 | Natasha Alperowicz

The board of Yara International (Oslo) has informed the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) that the company acknowledges guilt and accepts a corporate fine and confiscation totalling 295 Norwegian kroner ($48.3 million), the company announced today. The fine relates to agreements dating back to 2007 and before. In April 2011, Yara launched an external investigation and notified Økokrim of possible irregularities. The main findings of the external irregularities were published...

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