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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  SBM Offshore N.V    SBMO   NL0000360618

SBM OFFSHORE N.V

(SBMO)
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Delayed Quote. Delayed Euronext Amsterdam - 01/17 11:35:16 am
16.5 EUR   -0.99%
01/13SBM OFFSHORE N : first completed Fast4Ward® hull arrives in Singapore
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01/03SBM OFFSHORE N.V : Crossing thresholds
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01/02SBM OFFSHORE N.V : Notices
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Former Unaoil Chiefs Plead Guilty to U.S. Bribery Charges

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10/30/2019 | 06:44pm EST

By Dylan Tokar

Former top executives of the Monaco-based Unaoil Group pleaded guilty to foreign bribery charges, three years after a series of articles by an Australian media company implicated the oil-services firm in a world-wide corruption scheme.

Unaoil's former chief executive, Cyrus Ahsani, and its former chief operations officer, Saman Ahsani, reached plea agreements with U.S. prosecutors in March charging them with conspiring to violate the Foreign Corrupt Practices Act, the Justice Department said Wednesday.

The brothers helped pay millions of dollars in bribes to officials across Africa and the Middle East, according to court documents filed in a federal court in Houston, which were unsealed Wednesday.

The company's former business development director, Steven Hunter, also pleaded guilty to an FCPA conspiracy charge in a separate agreement in August, the Justice Department said.

The Ahsani brothers are set to be sentenced in April in the U.S. District Court for the Southern District of Texas, the department said. Mr. Hunter's sentencing is scheduled for March.

A lawyer for the Ahsanis and a lawyer for Mr. Hunter declined to comment on the announcement. All three are U.K. nationals, according to the Justice Department.

Unaoil was the subject of articles in 2016 by Australia's Fairfax Media, which alleged that the group had paid bribes on behalf of a number of prominent companies in the oil-and-gas sector.

The reports prompted investigations by the U.S. and U.K. governments. The Serious Fraud Office, the U.K.'s major economic crimes prosecutor, in 2018 launched criminal proceedings against two Unaoil units.

U.K prosecutors have also brought charges against four individuals in connection with the Unaoil probe. A former Unaoil partner pleaded guilty to bribery conspiracy charges in July. Three others are scheduled to begin trial in January.

The Ahsani brothers, who are also nationals of Iran, hail from a wealthy Monacan family. Until 2011, Cyrus Ahsani was also a U.S. citizen, according to the Justice Department.

A number of oil-and-gas companies have disclosed government investigations related to the Unaoil matter.

Documents unsealed in the Texas court on Wednesday named Dutch oil-services firm SBM Offshore NV and a former Ohio-based subsidiary of British engineering company Rolls-Royce Holdings PLC as clients of Unaoil.

Rolls-Royce in 2017 reached settlements totaling more than $800 million with U.S., U.K. and Brazilian prosecutors. The U.K. agreement covered conduct by Rolls-Royce and the Ohio-based subsidiary that was uncovered by the SFO's investigation into the company's use of Unaoil, according to the judge who approved the settlement.

Later that year, SBM Offshore agreed to pay $238 million in a settlement with the Justice Department over bribery allegations spanning three continents. A representative of SBM Offshore didn't immediately reply to a request for comment. The company had previously reached a separate settlement with Dutch prosecutors.

Write to Dylan Tokar at dylan.tokar@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX 0.01% 539.67 Delayed Quote.0.45%
ROLLS-ROYCE -0.24% 675.8 Delayed Quote.-1.08%
S&P AFRICA 40 INDEX -0.42% 168.38 Delayed Quote.-2.12%
SBM OFFSHORE N.V -0.99% 16.5 Delayed Quote.-0.54%
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Latest news on SBM OFFSHORE N.V
01/13SBM OFFSHORE N : first completed Fast4Ward® hull arrives in Singapore
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Financials (USD)
Sales 2019 2 003 M
EBIT 2019 324 M
Net income 2019 160 M
Debt 2019 3 486 M
Yield 2019 1,96%
P/E ratio 2019 22,1x
P/E ratio 2020 16,8x
EV / Sales2019 3,55x
EV / Sales2020 3,28x
Capitalization 3 635 M
Chart SBM OFFSHORE N.V
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Technical analysis trends SBM OFFSHORE N.V
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 23,27  $
Last Close Price 18,30  $
Spread / Highest target 52,0%
Spread / Average Target 27,2%
Spread / Lowest Target -18,7%
EPS Revisions
Managers
NameTitle
Bruno Yves Raymond Chabas Chief Executive Officer
Floris G. H. Deckers Chairman- Supervisory Board
Philippe Barril Chief Operating Officer
Douglas H. M. Wood Chief Financial Officer
Thomas M. E. Ehret Vice Chairman-Supervisory Board
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