Milan: AgustaWestland's parent company Finmeccanica says it has reached a agreement with Italian prosecutors to settle legal proceedings over the the VVIP chopper deal in India, adding this did not equal an acknowledgment of any wrongdoing.
India had cancelled the Rs 3,700 crore order with Finmeccanica unit AgustaWestland for 12 top-end helicopters in January, citing a breach of integrity relating to alleged corruption.
Finmeccanica said prosecutors had discontinued investigations into the contract and AgustaWestland would apply to the court for a negligible fine.
It added: "This decision is not in any way an admission of any wrongdoing or liability".
It said the decision was taken "in light of the reorganization underway within the Finmeccanica Group, to refocus energies on business and market opportunities globally."
(With inputs from Reuters)
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