Oct 27 (Reuters) - Brookfield Business Partners Lp BBU_u.TO -
* Brookfield Business Partners announces acquisition of leading Brazilian water distribution, collection and treatment business
* Says has entered into a definitive agreement to acquire a 70% controlling stake in Odebrecht Ambiental
* Transaction provides for an initial purchase price of US$768 million
* Future payment to seller of up to r$350 million may be added to purchase price if business achieves certain performance milestones
* Agreement to acquire a 70% controlling stake in Odebrecht Ambiental
* Brookfield Business Partners LP - fi-fgts is expected to continue to own a 30% interest in business Source text for Eikon: ID:nCCNc1LjPm Further company coverage: BBU_u.TO