Deals
Brookfield Agrees to Buy 70% Stake in Odebrecht for $768 Million
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Brookfield Asset Management Inc., Canada’s largest alternative asset manager, agreed to buy a 70 percent stake in Brazilian water and sewage company Odebrecht Ambiental, in a transaction that could be valued at as much as $1 billion.
The purchase will be the first major deal for Brookfield’s publicly traded private equity arm, Brookfield Business Partners LP, since it was spun out in June. Under the terms of the agreement, Brookfield will pay about $768 million for the majority stake in the company, according to a statement Thursday, and will contribute an additional $125 million in working capital.