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ABB Probed for Payments Connected to South Africa’s Eskom

  • Swiss industrial giant linked to corruption at state utility
  • Company self-reported to authorities in U.S. and South Africa
An ABB plant at night in Baden, Switzerland.
An ABB plant at night in Baden, Switzerland.Photographer: Stefan Wermuth/Bloomberg
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ABB Ltd. is being investigated for suspect payments related to work carried out by the Swiss industrial giant for embattled South Africa utility Eskom Holdings SOC Ltd.

The maker of robotics and power grids “self reported” the incidents to U.S. and South African authorities and expects it may be sanctioned, ABB said alongside third-quarter earnings on Wednesday. The Zurich-based company also took a writedown against the $160 million contract, awarded in 2015 and involving the Kusile power-plant project.