Brookfield Files $2.7 Billion Arbitration Against Peru Over Toll Roads

Brookfield Asset Management Inc. is taking Peru to arbitration, alleging the nation has illegally expropriated a series of toll roads the firm operates in its capital city.

The conflict between Brookfield, which operates the Rutas de Lima tolls, and the city government is longstanding. But the new arbitration is a significant escalation, demanding $2.7 billion in damages over measures the city has taken to stop it from collecting toll payments. Brookfield said the action is being taken under the umbrella of the free trade agreement between Peru and Canada.