Welcome to our dedicated page for Brookfield Business Partners news (Ticker: BBU), a resource for investors and traders seeking the latest updates and insights on Brookfield Business Partners stock.
Brookfield Business Partners L.P. news covers its role as a global business services and industrials owner and operator associated with Brookfield Asset Management’s Private Equity Group. Recurring updates include operating and financial results, distributions and dividends, security-structure matters, material agreements, and the completed corporate simplification that moved BBU unitholders into Brookfield Business Corporation shares.
Company news also includes portfolio-business developments, including Clarios, an advanced low-voltage battery technology business with battery recycling and critical mineral processing initiatives.
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On April 20, 2023, Clarios Global LP announced the pricing of $750 million in senior secured notes with a 6.750% coupon, up from a previously planned $500 million. Additionally, the Company increased its new term loan facility from $1 billion to $2.75 billion, maturing in May 2030 at a margin of SOFR plus 3.75%. The total refinancing amounts to $3.5 billion and is aimed at extending the capital structure's maturity without raising overall borrowing costs significantly. Closing is expected on May 4, 2023. Proceeds will repay existing loans maturing April 2026. Clarios, owned by Brookfield Business Partners, focuses on advanced energy storage solutions.
Brookfield Business Partners will hold its 2023 First Quarter Conference Call & Webcast on May 5, 2023, at 10:30 a.m. ET, to discuss results and business initiatives. The results will be released prior to 8:00 a.m. ET on the same day and available on their website.
Participants can join via conference call or webcast. Pre-registration is required for the conference call, providing a bypass to the operator for ease of access. The webcast can be accessed through their registration link, and a replay will also be made available online.
Brookfield Business Partners operates globally, focusing on high-quality businesses providing essential products and services, with investment options through Brookfield Business Partners L.P. (NYSE: BBU) or Brookfield Business Corporation (NYSE: BBUC).
BROOKFIELD, NEWS, March 6, 2023 – Brookfield Business Partners L.P. (NYSE: BBU) filed its 2022 annual report on Form 20-F with the SEC, including audited financial statements for the year ending December 31, 2022. The report is available on their website and through Canadian securities authorities. As a significant player in global business services and industrials, Brookfield focuses on high-quality business ownership that delivers essential products and services. Investors can engage with Brookfield Business Partners or Brookfield Business Corporation (NYSE: BBUC), both backed by Brookfield Asset Management, which manages approximately $800 billion in assets.
Brookfield Business Partners (NYSE: BBU) reported its financial results for the year ended December 31, 2022. The company experienced a net income of $146 million ($0.73 per unit), down from $643 million ($3.28 per unit) in 2021, impacted by prior year gains from asset sales. Adjusted EBITDA rose to $2.335 billion, up from $1.761 billion, driven by improved contributions from Business Services, Industrials, and Infrastructure Services segments. The company ended 2022 with liquidity of approximately $1.6 billion and repurchased over 2.5 million units. A quarterly distribution of $0.0625 per unit is set for March 31, 2023, benefiting unitholders of record by February 28.
BROOKFIELD, NEWS, Dec. 28, 2022 – Brookfield Business Partners (NYSE: BBU) announced it received exemptive relief from the Ontario Securities Commission regarding the sale of Westinghouse Electric Company. This decision was based on support from over 50% of unitholders. A disclosure document has been filed with regulatory authorities, detailing the transaction. The process is subject to conditions, including written consents from a majority of unitholders, and the transaction is anticipated to close in the second half of 2023.
Brookfield Business Partners invites stakeholders to its 2022 Fourth Quarter Conference Call on February 3, 2023, at 11:00 a.m. ET. Key financial results will be released earlier that day at 8:00 a.m. ET. Investors can join via conference call or webcast, with pre-registration required for the call. Brookfield Business Partners, listed under symbols BBU on NYSE and TSX, focuses on high-quality business services and industrials. The company is backed by Brookfield Asset Management, which manages over $750 billion in assets.
Brookfield Business Partners (NYSE: BBU) reported a net loss of $33 million for Q3 2022, significantly down from a net income of $87 million in Q3 2021. Despite this, adjusted EBITDA rose to $627 million compared to $443 million last year, driven largely by new acquisitions. The company announced its agreement to sell its nuclear technology services operation, Westinghouse, for approximately $8 billion, which is expected to enhance corporate liquidity significantly. The quarterly distribution is set at $0.0625 per unit, payable on December 30, 2022.