July 20, 2017 / 7:58 PM / a year ago

Exclusive: Brookfield in talks to buy Odebrecht's Brazil toll roads - sources

SAO PAULO (Reuters) - Canada’s Brookfield Asset Management Inc (BAMa.TO) is in talks with Odebrecht SA to buy seven Brazilian highways operated by the conglomerate’s transportation unit, two sources with knowledge of the matter said on Thursday.

The corporate logo of Odebrecht is seen inside of one of its offices in Mexico City, Mexico May 4, 2017. Picture taken on May 4, 2017. REUTERS/Carlos Jasso

Brookfield and Odebrecht signed an exclusivity agreement to negotiate the acquisition, the sources said on condition of anonymity because they were not authorized to speak publicly on the matter.

Brookfield and Odebrecht declined to comment.

Odebrecht has rights to operate 1,712 kilometers (1,064 miles) of seven different highways in five Brazilian states. One of the largest is the Rota das Bandeiras, in Sao Paulo, Brazil’s richest state. The source gave no details of the deal’s value.

Odebrecht agreed with creditors two months ago to accelerate asset sales as a corruption scandal raised financing costs.

The conglomerate, as part of a $3.5 billion settlement with Brazilian, U.S. and Swiss authorities, has admitted to bribing officials in 12 countries.

Editing by Matthew Lewis

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