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Reuters reported. The deal is said to be valued a 5.3 billion real ($1.65 billion), implying an 8.5x EBITDA multiple. The transaction is expected to be completed by the end of the year. Odebrecht Ambiental, also known as Odebrecht Environmental, serves more than 16 million people in over 180 Brazilian municipalities. Odebrecht Group is expected to retain the right to develop its water concession projects outside Brasil and Brookfield will re-brand Odebrecht Ambiental, which was named Foz until 2012. Brookfield, Canada’s largest alternative asset manager, has roughly $225 billion in assets under management. The firm invests in the property, power, and infrastructure sectors. The firm was formerly known as Brascan Corp. Brookfield is based in Toronto, Canada with additional offices across North America, South America, Europe, Asia, and Australia. The deal comes two months after Odebrecht Latinvest agreed to sell 57 percent of Peruvian road concession Rutas de Lima, also to Brookfield. At closing, Rutas de Lima will be owned by Brookfield and its institutional partners (57%), Odebrecht Latinvest (25%) and Sigma (18%), Odebrecht said. Odebrecht Group, Brazil’s fourth largest private group, is a global conglomerate consisting of diversified businesses in the fields of engineering, construction, chemicals and petrochemicals. The company was founded in 1944 in Salvador da Bahia by Norberto Odebrecht, and is now present in South America, Central America, North America, the Caribbean, Africa, Europe and the Middle East. The group’s leading company is Construtora Norberto Odebrecht SA, the biggest engineering and contracting company in Latin America. Odebrecht’s Braskem SA is the largest petrochemicals producer in Latin America and one of Brazil’s five largest private-sector manufacturing companies. By revenue Braskem is the fourth largest petrochemical company in the Americas and the seventeenth in the world. In June 2015, Brazilian authorities arrested the group’s chief executive Marcelo Odebrecht, in connection with an ongoing probe into bribes paid by the Brazilian oil giant, Petrobras, which has seen the last two presidents of Brazil, Dilma Rouseff (suspended from office in March 2016 and subject to an upcoming impeachment trial) and her predecessor Luiz Inácio Lula da Silva, embroiled in the scandal. In March 2016, Marcelo Odebrecht was slapped with a 19-year prison sentence, for paying over $30 million in bribes to executives of Petrobras, in exchange for contracts and influence.]]>