Assessing and Protecting Yourself from the Corruption Risks When Acquiring an Industrial Business

July 2014

Abstract

In recent years, we have seen a growing demand for compliance around the world, in particular in the heavy industry business. Reasons for that is of course the increase in sanctions implemented in the United States, and now by other countries as well. Authorities and businesses have had a high scrutiny on commercial agents and compliance departments have blossomed in multinational companies. With such potential liabilities existing within businesses, the mergers and acquisitions world has to remain vigilant and properly assess the risk of corruption-related liabilities when assessing the risks of buying a target.

Authors

Nicolas Tollet

Senior Compliance Officer, Hughes Hubbard & Reed, France

Nicolas Tollet is involved in anticorruption compliance matters since 2008. He is a graduate from the University of Aix-en-Provence and Berkeley Law School, and an Attorney at Law admitted to the Bars of Paris, New York and the United States Supreme Court. In 2006, Nicolas Tollet joined Willkie Farr & Gallagher LLP where his practice focused on corporate and financial transactions, including mergers and acquisitions, LBOs and capital market. His practice also focused on US FCPA compliance in connection with S.E.C. and D.O.J. investigations of European companies on corruption issues, including the Alcatel-Lucent case. In 2012, he left Willkie to join Technip and dedicate to anticorruption compliance. Prior to that, Nicolas Tollet worked notably at Cleary Gottlieb Hamilton & Steen LLP and Bredin Prat in Paris. He is also the founder and principal of European Compliance under 40 (www.europeancomplianceunder40.com) a network of young European professionals working in the compliance area.

Companies

Hughes Hubbard & Reed

Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 40,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges. Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction. Technip shares are listed on the NYSE Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).

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