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."