Airbus to pay $4 billion to settle corruption probe

PARIS (Reuters) – European planemaker Airbus (PA:AIR) will pay 3.6 billion euros ($4 billion) to settle corruption probes by U.S., British and French authorities into contract dealings, lifting a legal cloud that has hung over the world’s largest aircraft maker for years.

Announcing the agreement – effectively a corporate plea bargain – France’s financial prosecutor said the company had also agreed to three years “light compliance monitoring” by the country’s anti-corruption agency.

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