Debevoise & Plimpton LLP is advising Brookfield Business Partners and institutional clients of Brookfield Asset Management in their acquisition of a 70% controlling stake in the business of Odebrecht Ambiental, Brazil’s largest private water distribution, collection and treatment company (the “Transaction”). The Transaction includes the core water, wastewater and industrial water treatment businesses of Odebrecht Ambiental.
The Transaction provides for an initial purchase price of US$768 million. It is also anticipated that approximately US$125 million of additional capital will be contributed to the business on or about closing to fund working capital requirements and support the expected growth of the business. Under the terms of the Transaction, a future payment to the seller of up to R$350 million (approximately US$110 million at the current exchange rate) may be added to the purchase price if the business achieves certain performance milestones over the three years following closing.
The Debevoise team is led by partner Maurizio Levi-Minzi, and includes associates Camila Amaral Surcan and Rafael Thor. Tozzini Freire acted as Brazilian counsel.
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