Hilton Worldwide Holdings Inc Opens at $21.30, IPO at $20.00
EADS Unit Probed by U.K. Prosecutors Over Saudi Bribery Claims
A European Aeronautic, Defence & Space Co. (EAD) unit in Britain is being probed by U.K. prosecutors over allegations it paid bribes to win a telecommunications deal with Saudi Arabia’s royal family.
The investigation involves suspected payments to Saudi officials from EADS’s GPT Special Project Management unit, David Jones, a spokesman for the U.K.’s Serious Fraud Office in London, said today in a phone interview.
The company provided officials with cars, jewelry and briefcases of money through intermediaries to win the contract valued at 2 billion pounds ($3.13 billion), the Telegraph newspaper reported in May 2011, citing statements to investigators by a former GPT employee.
“Certain allegations have been made and these are being properly addressed with our full and constructive engagement,” an EADS spokesman, who declined to be cited by name, said in a statement.
To contact the editor responsible for this story: Anthony Aarons at firstname.lastname@example.org