Airbus subsidiary GPT Special Project Management will pay approximately £30.3 million (U.S. $42.1 million) after pleading guilty Wednesday to corruption relating to contracts it was awarded for work carried out in Saudi Arabia.

The U.K. Serious Fraud Office (SFO) opened an investigation into GPT in August 2012 relating to the award of a £2 billion (U.S. $2.8 billion) contract for high-level intranet and communications work for the Saudi National Guard. According to the SFO, the corrupt activity occurred between December 2008 and July 2010.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...