Abbot Group: Difference between revisions
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On 7 March 2008, Abbot Group was acquired by US private equity firm [[First Reserve Corporation]].<ref>{{Cite news|title = First Reserve to acquire Abbot|url = http://www.ft.com/cms/s/0/f85d03fe-ae2f-11dc-97aa-0000779fd2ac.html#axzz3YowJ9xGP|newspaper = Financial Times|date = 19 December 2007|access-date = 2015-04-30|issn = 0307-1766|first = Dino|last = Mahtani}}</ref> |
On 7 March 2008, Abbot Group was acquired by US private equity firm [[First Reserve Corporation]].<ref>{{Cite news|title = First Reserve to acquire Abbot|url = http://www.ft.com/cms/s/0/f85d03fe-ae2f-11dc-97aa-0000779fd2ac.html#axzz3YowJ9xGP|newspaper = Financial Times|date = 19 December 2007|access-date = 2015-04-30|issn = 0307-1766|first = Dino|last = Mahtani}}</ref> |
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In 2012, Abbot was involved in a bribery settlement with the British government, paying £5.6m as penalty for bribes made to win a contract.<ref name=":0">{{Cite web |last=Binham |first=Caroline |date=November 24, 2012 |title=Abbot first to strike bribery deal |url=https://www.ft.com/content/a6d7afea-3587-11e2-bd77-00144feabdc0 |access-date=2022-08-08 |website=www.ft.com}}</ref> The amount was equivalent to "advantage received by the company" from the contract it won by bribing Scottish officials.<ref name=":0" /><ref>{{Cite book |last=King |first=Colin |title=Negotiated Justice and Corporate Crime: The Legitimacy of Civil Recovery Orders and Deferred Prosecution Agreements |last2=Lord |first2=Nicholas |publisher=Springer |year=2018 |isbn=978-3-319-78562-2 |location=Cham |pages=66 |language=en}}</ref> The series of payments was entered into by one of its overseas subsidiaries.<ref>{{Cite book |last=Talus |first=Kim |title=Research Handbook on International Energy Law |publisher=Edward Elgar Publishing |year=2014 |isbn=978-1-78100-219-3 |location=Cheltenham |pages=505 |language=en}}</ref> |
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== See also == |
== See also == |
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Revision as of 23:41, 8 August 2022
 | This article needs additional citations for verification. (November 2019) |
Abbot Group Limited is an oil and gas services company based in Aberdeen, Scotland. The Group employs more than 8,000 people in over 20 countries around the world.[1] The group has two operating divisions, KCA DEUTAG and Bentec, which provide drilling and related well and facilities engineering services to the energy industry. It operates in the North Sea and in locations such as Russia, the Middle East, Caspian Region, North and West Africa, and Asia.
On 7 March 2008, Abbot Group was acquired by US private equity firm First Reserve Corporation.[2]
In 2012, Abbot was involved in a bribery settlement with the British government, paying £5.6m as penalty for bribes made to win a contract.[3] The amount was equivalent to "advantage received by the company" from the contract it won by bribing Scottish officials.[3][4] The series of payments was entered into by one of its overseas subsidiaries.[5]
See also
References
- ^ "Annual Report 2007" Abbot Group[permanent dead link] Accessed 12 June 2008.
- ^ Mahtani, Dino (19 December 2007). "First Reserve to acquire Abbot". Financial Times. ISSN 0307-1766. Retrieved 30 April 2015.
- ^ a b Binham, Caroline (24 November 2012). "Abbot first to strike bribery deal". www.ft.com. Retrieved 8 August 2022.
- ^ King, Colin; Lord, Nicholas (2018). Negotiated Justice and Corporate Crime: The Legitimacy of Civil Recovery Orders and Deferred Prosecution Agreements. Cham: Springer. p. 66. ISBN 978-3-319-78562-2.
- ^ Talus, Kim (2014). Research Handbook on International Energy Law. Cheltenham: Edward Elgar Publishing. p. 505. ISBN 978-1-78100-219-3.
