Kuwait's logistics firm Agility is to pay the US government $600 million to settle fraud charges (mainly of overcharging the US Army on supply contracts), an Arabic-language daily reported on Friday, citing unnamed sources.
Agility and the US government reached a preliminary agreement and the sum would be paid over three years, Kuwait's Al-Jarida newspaper said.
The Kuwaiti firm, formerly Public Warehousing Company, is in talks to resolve an indictment accusing it of overcharging the US Army on supply contracts in Iraq, Kuwait and Jordan.
The company has delayed the release of its financial results until Sunday and requested a trading halt on its shares, pending clarity on talks.
Al-Jarida said the settlement will mean the return of US government business to Agility, but it was not clear yet if that would be in full or in part. It said the settlement could be announced "in a day or two."
"It (the settlement)... could include some slight changes, especially regarding the return of all contracts or the majority of them," the paper said. Agility was not immediately available to comment.
Kuwait has become a major logistics base for US forces since the 2003 American invasion of Iraq.