💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadUnlock them all

Canada's Brookfield to buy Odebrecht Ambiental - source

Published 2016-08-17, 08:26 a/m
© Reuters.  Canada's Brookfield to buy Odebrecht Ambiental - source
BN
-

PARIS, Aug 17 (Reuters) - Canada's Brookfield Asset Management Inc BAMa.TO has signed a preliminary contract to buy Brazilian engineering conglomerate Grupo Odebrecht's 70 percent stake in water and sewage group Odebrecht Ambiental, an industry source told Reuters on Wednesday.

The source said the deal was done at an equity value of 5.3 billion real ($1.65 billion), which implies an earnings before interest, tax, depreciation and amortisation (EBITDA) multiple of 8.5 times. Odebrecht S.A. will cash out 3.4 billion real, he added.

Odebrecht Group will retain the right to develop its water concession projects outside Brasil and Brookfield will re-brand Odebrecht Ambiental, which was named Foz until 2012.

The deal is expected to be completed by the end of the year.

($1 = 3.2025 Brazilian reais)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.