Hitachi settles U.S. SEC charges over South Africa dealings - CNBC Africa

Hitachi settles U.S. SEC charges over South Africa dealings

Southern Africa

by Reuters 0

Hitachi settles U.S. SEC charges over South Africa dealings. PHOTO: Wikipedia

Hitachi Ltd agreed to pay 19 million US dollars to settle U.S. regulatory charges that it inaccurately recorded improper payments to South Africa's ruling political party in connection with contracts to build two multibillion dollar power plants.

The Japanese company did not admit or deny wrongdoing in agreeing to settle civil charges by the U.S. Securities and Exchange Commission, which announced the settlement on Monday.

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