Brookfield Said to Join Oi Bondholders Advised by Moelis
- Canadian firm said to be in Moelis advised steering committee
- New plan to restructure phone company is being prepared
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Brookfield Asset Management Inc., Canada’s largest alternative asset manager, is joining a group of Oi SA bondholders being advised by Moelis & Co. amid the Brazilian phone giant’s restructuring, according to people with knowledge of the matter.
Brookfield joined the steering committee of the group last week, the people said, asking not to be identified because the decision isn’t public. The group, with backing from Egyptian billionaire Naguib Sawiris, presented a plan in December to restructure Oi, which filed for protection against creditors in Rio de Janeiro in June to restructure its $19 billion in debt. The proposal is now being revised based on suggestions received from other creditors, the group said on Tuesday.