Brookfield to acquire Brazil's Odebrecht Ambiental in $1 bln deal
Brookfield Business Partners (BPP) and institutional clients of Brookfield Asset Management have agreed to acquire a 70 percent stake in Odebrecht Ambiental, a Brazilian water distribution, collection and treatment company. The deal has an initial purchase price of US$768 million. About US$125 million may also be committed to fund working capital and growth. Brookfield may also pay a post-closing amount of about US$110 million to the seller, Odebrecht Group, if performance milestones are met. BPP, a listed vehicle, was launched this year to fund Toronto-based Brookfield's private equity deals and invest alongside of Brookfield Capital Partners IV. The latter closed at US$4 billion in June.
27 October 2016•6 mins read
