Representatives from at least two of Skanska's local partners admitted in police interrogations that they bribed officials at Petrobras in order to land multi-million krona contracts in the building sector for projects like refineries and pipelines.
Swedish Radio News reports that in one instance Skanska's partner is suspected of doling out nearly SEK 6 million in order to win a contract to build a gas pipeline in the Amazon.
Fallout from the scandal, as well as low sales, has Skanska now saying it will leave the continent all together.
President of Skanska Latin America Johan Henriksson told Swedish Radio News that the company is investigating the graft allegations.
"We have not seen any proof of this," he said of one bribery allegation. "But of course we are looking into this issue very carefully to ensure that this is not the case."