The Globe and Mail reports in its Wednesday edition that Brookfield Asset Management has withdrawn an offer to buy one of Brazilian construction company OAS's most valuable assets. A Bloomberg dispatch to The Globe says that the sale of OAS's share of airport operator Invepar was part of a restructuring plan approved by creditors Dec. 18. Brookfield had offered $475-million (U.S.) for the 24-per-cent Invepar interest. Brookfield withdrew its offer because it failed to reach an agreement with three Brazilian pension funds that together control about three-quarters of the business. Meanwhile, Reuters reports that Brookfield demanded full management control of the company, which was denied. The sale of the Invepar interest came days after a Brazilian bankruptcy judge approved a recovery plan. The decision means that OAS will have to publish new terms for the sale of the stake within the next five days and hold an auction within a month. The engineering company, which was founded in the mid-1970s, relies on a successful recovery plan to remain operational, keep as many as 100,000 jobs and stay current with suppliers. Brookfield closed Tuesday at $40.58, down 94 cents on the Toronto Stock Exchange.