Brookfield Business Partners (NYSE: BBU, BBUC; TSX: BBU.UN, BBUC), announced that it has reached an agreement to sell a portion of its interest in three businesses (the “Transaction”) to the New Fund targeting high-net-worth investors, managed by Brookfield Asset Management.
Brookfield Business Partners will receive units of the New Fund with an initial redemption value of approximately US$690 million, representing an aggregate 8.6% discount to the net asset value of the interests sold.
The Transaction provides the potential for Brookfield Business Partners to monetize a partial interest in three businesses at a value accretive to the trading price of its units and shares, and provides the New Fund with the option to deploy capital in a diversified portfolio.
About Brookfield Business Partners:
Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have flexibility to invest in the company either through Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), a limited partnership or Brookfield Business Corporation (NYSE, TSX: BBUC), a corporation.
Press Release :Brookfield Business Partners Announces Sale of Assets to Seed New Evergreen Private Equity Strategy | Brookfield Business Partners
Deal team: Jim Osler, Rob Fedrock, Paul Spafford, Aaron Kadey, Campbell Yelle
