Global Water Intelligence (GWI)

Market digests impact of Brookfield’s Brazilian buy

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Source: Global Water Intelligence (GWI)

Brookfield’s $768 million acquisition of Brazilian water concessionaire Odebrecht Ambiental – announced late last week – marks a paradigm shift in the way international investors engage with the Brazilian water market.

While it is the first time that a major non-domestic player has taken exposure to an established portfolio of Brazilian water concessions, the deal also marks the most significant cross-border deal in the Latin American water sector since Colombian multi-utility took over Chilean regulated water utility Aguas de Antofagasta for $960 million in 2015.

The Odebrecht deal is by far Brookfield’s most significant foray into the water space, and the asset is likely to be housed in the NYSE-listed asset manager’s record-breaking $14 billion infrastructure fund, which reached final close in July.

Although Brookfield has committed to buy 70% of Odebrecht Ambiental, it is open to syndicating up to 40% of the asset down to other institutional investors over time.

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