Odebrecht, Brookfield near Brazil sewage unit deal

Canada’s Brookfield Asset Management Inc is close to finalizing the purchase of Brazilian engineering conglomerate Odebrecht SA’s stake in a water and sewage firm after due diligence procedures slowed the transaction for months, two people with direct knowledge of the matter said.

Brookfield (BAMa.TO) has agreed to buy the 70 percent that Odebrecht SA has in the unit, known as Odebrecht Ambiental SA, according to the sources. The deal will value Odebrecht Ambiental at 5 billion reais ($1.5 billion), depending on final details and adjustments, the people added.

An announcement is due within weeks, the people said.

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