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Report: Brookfield in discussions for 30% stake in Brazilian sanitation company

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Report: Brookfield in discussions for 30% stake in Brazilian sanitation company

Brookfield Asset Management Inc. is in discussions to purchase a 30% stake in Brazilian sanitation company BRK Ambiental Participações SA for about 2 billion reais, Reuters reported, citing two people with knowledge of the matter.

The stake is owned by workers severance fund FGTS and managed by Brazilian state bank Caixa Econômica Federal, the report noted.

Caixa Econômica, which is in the process of selling most of its noncore assets, and Brookfield did not immediately reply to requests for comment, according to Reuters.

Brookfield bought a controlling stake in the company from Odebrecht SA in 2016, Reuters said.

As of Aug. 2, US$1 was equivalent to 3.88 Brazilian reais.