UPDATE 2-Brazil's Schahin says 28 units file for bankruptcy protection

April 17, 2015 4:25 PM

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SAO PAULO, April 17 (Reuters) - Twenty-eight units of Brazilian engineering firm Grupo Schahin filed for bankruptcy protection on Friday as a corruption scandal at key client Petróleo Brasileiro SA hampered efforts to refinance up to 6.5 billion reais ($2.1 billion) in debt.

With interests ranging from construction and electricity to oil and gas services, Schahin requested creditor protection in a São Paulo state court. Under terms of the bankruptcy plan, Schahin would exit activities in engineering and construction and focus on oil and gas services.

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