The Swiss commodity trading and mining group Glencore has accepted an expensive settlement with international judicial authorities because of allegations of manipulation and bribery.

The company has pleaded guilty to violations of anti-corruption laws and agreed to a payment of more than $1.1 billion (1.0 billion euros), the US Department of Justice announced on Tuesday (local time) in Washington.

According to Glencore, they will pay around 39.6 million dollars in Brazil and also expect an additional fine in Great Britain.

Overall, the group assumes settlement payments of around $ 1.5 billion.

The sum roughly corresponds to the provisions already formed to settle the proceedings.

The authorities had accused Glencore and its subsidiaries of decades of corruption and oil price manipulation.

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