Spanish infrastructure company Isolux Corsan has canceled plans to hold an initial public offering of shares in its Brazilian unit, Isolux Infrastructure, the company said Thursday.

The company didn't disclose reasons for the cancellation. Isolux originally announced its IPO plans in August.

This is the third IPO that has run into difficulties in Brazil this year.

At the end of January, Norwegian oil-and-gas equipment company SeaDrill Ltd. (SDRL, SDRL.OS) postponed its plans to hold an initial public offering for its Brazilian unit in order to gain time to make certain changes to its corporate structure.

In February, Brasil Travel Turismo e Participacoes S.A canceled plans to hold an initial share sale in Brazil due to "unfavorable market conditions."

-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3544-7071; rogerio.jelmayer@dowjones.com

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