Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

Odebrecht sells Peru toll road project to Brookfield

Published 2016-06-27, 03:52 p/m
© Reuters. Odebrecht sells Peru toll road project to Brookfield
NG
-
BN
-

SAO PAULO, June 27 (Reuters) - Odebrecht SA has sold a 57
percent stake in a Peruvian toll road project to Brookfield
Asset Management Inc BAMa.TO , as Latin America's largest
engineering firm sheds assets to cope with fallout from a
sweeping corruption probe on its home turf.
In a statement, Salvador, Brazil-based Odebrecht said the
transaction will allow it to keep a 25 percent in the Rutas de
Lima project, which involves more than 70 miles (115 km) of
roads in the Andean country. Odebrecht declined to disclose the
value of the transaction.
Sources familiar with Odebrecht's asset sale told Reuters
this month that the Brazilian company sought to fetch about $500
million with the Rutas de Lima stake sale. Reuters reported on
June 14 that Odebrecht could raise $4 billion from asset sales
in Peru and Colombia, which include a stake in natural gas
pipeline operator Gasoducto Sur Peruano.
Odebrecht, one of the companies targeted in the widest ever
corruption probe in Brazil, is trying to sell assets and
renegotiate about $10 billion in loans. Marcelo Odebrecht, the
family scion and former chief executive officer of the namesake
group, was sentenced to 19 years in jail for his role in the
corruption scandal known as "Operation Car Wash."

Latest comments

Install Our App
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.