Odebrecht selling Peru irrigation business to Brookfield, Suez

Brazilian engineering group Odebrecht SA said it has agreed to sell its Olmos irrigation business in Peru to Brookfield Infrastructure Partners LP and Suez SA for an undisclosed sum.

The announcement follows Odebrecht’s failed attempt to sell its majority stake in a $5 billion natural gas pipeline project in Peru to Sempra Energy, which backed out of a deal on worries it could be held liable for any corruption.

Odebrecht is at the center of Brazil’s biggest graft scandal and is trying to sell off its assets to pay down its bloated debt.

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