Brookfield in talks to buy J&F power lines: Reuters
Canada's Brookfield Asset Management has signed an exclusivity agreement to acquire power transmission lines owned by Brazil's J&F Investimentos SA, which is selling off assets to pay a record corruption-related fine, sources told Reuters. Brookfield is offering up to 1 billion reais (US$311 million) for the majority stake that J&F's electricity unit Ambar Energia Ltda has in an 880 kilometre-long grid of transmission lines, one source said. J&F is accelerating the pace of talks to sell assets as creditors pressure leading shareholders to renegotiate more than 30 billion reais their companies amassed in recent years.
13 July 2017•1 min read
