By Mauro Orru

Eni SpA said Thursday that the judge in charge of preliminary investigations into some of its activities in the Republic of Congo accepted a proposal of agreed sanctions to settle the case.

The Italian oil-and-gas major said last week that it had filed a request to Italian prosecutors to pay 11.8 million euros ($13.9 million) after a Milan court reduced the alleged offence to undue inducement from international corruption.

"Eni wishes to state that the outcome of today does not represent an admission of inadequacy of its systems or a guilty plea by the company in relation to the alleged offence, but a settlement aimed at avoiding the continuation a judicial process that would entail significant further expenditure of unrecoverable costs and resources," the company said in a statement.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

March 25, 2021 06:02 ET (10:02 GMT)

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