Brookfield Business Partners

Brookfield Business Partners
Public
Traded as NYSE: BBU
TSX: BBU.UN
Industry Asset management
Headquarters Toronto,, Canada
New York, USA
Area served
 Worldwide
Key people
 Cyrus Madon, (CEO)
Services Financial services
AUM US$8.2 billion (2016)[1]
Parent Brookfield Asset Management
Website https://bbu.brookfield.com


Brookfield Business Partners is a publicly traded limited partnership and the primary public vehicle through which Brookfield owns and operates the business services and industrial operations of its private equity group.[2] It was formed through a spin-off from Brookfield Asset Management in June 2016.[2] Its units trade on the Toronto Stock Exchange (BBU.UN) and New York Stock Exchange (BBU). Brookfield Business Partners is led by Chief Executive Officer Cyrus Madon, who joined Brookfield in 1998 and leads its global private equity group. [3]

In 2016, the company made its first major acquisition, agreeing to acquire a 70% stake in Brazil’s largest private water and sewage company, Odebrecht Ambiental, with the remaining 30% continuing to be held by Fundo de Investimento do Fundo de Garantia do Tempo de Servico.[4]

In 2017, the company sold Maax, a bathroom fixtures maker, to American Bath for more than twice the value it acquired it for in 2008.[3] In Q1 2017, the company announced an agreement to acquire an approximate 85% stake in Greenergy, a supplier of road fuels in the UK[3] and an agreement to purchase 100% of Loblaw gas station operations, one of the largest in Canada.[5]

References

  1. ↑ "2016 Annual Report" (PDF). Brookfield Business Partners, LP. Retrieved 7 May 2017.
  2. 1 2 Smith, Ryan. "Brookfield Asset Management completes spin-off". Wealth Professional Canada. Retrieved 2017-05-07.
  3. 1 2 3 "Brookfield doubles its money with sale of Maax, will acquire Greenergy - PE Hub". PE Hub. 2017-02-06. Retrieved 2017-05-07.
  4. ↑ "Brookfield Agrees to Buy 70% Stake in Odebrecht for $768 Million". Bloomberg.com. 2016-10-27. Retrieved 2017-05-07.
  5. ↑ "Loblaw to sell gas station business to Brookfield in $540-million deal". The Globe and Mail. Retrieved 2017-05-07.
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