Canada's Brookfield to buy Odebrecht Ambiental: source

August 17, 2016 12:28 PM

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PARIS 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 amortization (EBITDA) multiple of 8.5 times. Odebrecht S.A. will cash out 3.4 billion real, he added.

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