OAS sells R$1.35 billion Invepar stake under restructuring plan

Overview:

• A court in Brazil has approved construction firm OAS's restructuring plan, which primarily involves the sale of assets in order to pay outstanding debt.
• Specifically the plan involves the sale of OAS's stake in airport operator Invepar to Brookfield Asset Management for R$1.39 billion.
• The deal comes in the context of a wider investigation into the Brazilian construction sector, which has made it difficult for many companies in that sector to secure finance and new projects.
• TozziniFreire Advogados advised Brookfield.