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Peru court allows Odebrecht's sale of Olmos to Brookfield
September 11, 2017 / 6:02 PM / 9 days ago

Peru court allows Odebrecht's sale of Olmos to Brookfield

FILE PHOTO: A sign of the Brazilian construction conglomerate Odebrecht is seen at their headquarters in Lima, Peru, January 24, 2017. REUTERS/Guadalupe Pardo/File Picture

LIMA (Reuters) - An appeals court in Peru has rescinded a ban on Brazilian construction company Odebrecht SA’s ODBES.UL sale of its Olmos irrigation business to a consortium led by Brookfield Infrastructure Partners LP (BIP.N), the office of Peru’s judiciary said on Monday.

A lower court had blocked the sale at the request of a government attorney who has been dismissed. The appeals court said forbidding the transaction was unconstitutional and would make it harder for Peru to secure civil reparations from Odebrecht for corruption.

Reporting By Mitra Taj; Editing by Phil Berlowitz

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