The Globe and Mail reports in its Thursday edition that Brazilian construction conglomerate
Odebrecht SA is in advanced talks on selling its majority
share of a $5-billion (U.S.)
natural-gas pipeline project in
Peru to Brookfield Asset Management. A Reuters dispatch to The Globe says the news was announced by Peru's
Finance Minister in a televised
interview. The two companies and the
government of Peruvian President
Pedro Pablo Kuczynski reached an agreement on Friday,
Alfredo Thorne said. "We're about to close" the deal,
Mr. Thorne told local journalist
Jaime de Althaus late Tuesday. Mr. Thorne believes that construction will begin early next year. Techint Group would also join
the pipeline project as a junior
partner and would be tasked
with pipeline construction. Mr. Thorne said Brookfield
agreed to keep an anti-corruption
clause in the pipeline contract,
a condition that the government has been firm on
but which had been a deal breaker
for U.S.-based Sempra Energy in acquisition talks that collapsed
last month. Sempra has said the clause
would allow Peru to seize the project if Odebrecht were found
to have broken any laws. The government said it is part of any public-works contract.
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