Brookfield closes $908 mln buy of Odebrecht Ambiental, renames

Brookfield Business Partners (BPP) and institutional clients of Brookfield Asset Management have closed their acquisition of a 70 percent stake in Odebrecht Ambiental, a Brazilian water distribution, collection and treatment company. The deal, announced in October, reflects a total investment of US$908 million. Brazil's FI-FGTS continues to own a 30 percent interest in the business, which will be renamed BRK Ambiental. BRK is one of the first platform investments of Brookfield Capital Partners IV, which raised US$4 billion last year. BPP, a listed vehicle, was launched in 2016 to participate in Toronto-based Brookfield's private equity deals.

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