October 27, 2016 / 9:37 PM / a year ago

BRIEF-Brookfield Business to acquire a 70% controlling stake in Odebrecht Ambiental

Oct 27 (Reuters) - Brookfield Business Partners Lp -

* Brookfield Business Partners announces acquisition of leading Brazilian water distribution, collection and treatment business

* Says has entered into a definitive agreement to acquire a 70% controlling stake in Odebrecht Ambiental

* Transaction provides for an initial purchase price of US$768 million

* Future payment to seller of up to r$350 million may be added to purchase price if business achieves certain performance milestones

* Agreement to acquire a 70% controlling stake in Odebrecht Ambiental

* Brookfield Business Partners LP - fi-fgts is expected to continue to own a 30% interest in business Source text for Eikon: Further company coverage:

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