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. (NYSE: BBU; TSX: BBU.UN) is a global business services and industrials company whose news flow reflects its role as the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Company announcements emphasize owning and operating businesses that provide essential products and services and that, in the company’s view, benefit from strong competitive positions.
The BBU news stream features regular quarterly and interim financial results, where the partnership reports segment performance across Industrials, Business Services, Infrastructure Services and Corporate. These releases discuss contributions from operations such as advanced energy storage, electric heat tracing systems, engineered components, dealer software and technology services, modular building leasing services, lottery services and mortgage-related financial businesses, based on the company’s own segment commentary.
Investors following BBU news will also see capital allocation and transaction updates. Recent communications include the sale of partial interests in DexKo, CDK Global and BrandSafway to a new evergreen private equity fund managed by Brookfield Asset Management, as well as agreements and completions related to acquiring a Canadian residential and multi-family mortgage lender and other businesses. The company also issues releases about normal course issuer bids for its units and exchangeable shares, describing its approach to repurchases.
Another key theme in Brookfield Business Partners’ news is corporate structure and governance. The partnership has announced plans to simplify its structure by converting Brookfield Business Partners L.P. and Brookfield Business Corporation into a single publicly traded Canadian corporation, BBU Inc., and has provided details on the proposed exchange of existing securities, anticipated benefits and required approvals.
For investors and analysts tracking BBU news, this page aggregates earnings releases, conference call announcements, transaction updates and corporate reorganization developments drawn from company communications and regulatory submissions.
Brookfield Business Partners has announced its agreement to acquire CDK Global for $54.87 per share, valuing the transaction at approximately $8.3 billion. CDK Global, which generates $1.7 billion in annual revenue, provides technology and software solutions crucial for automotive dealerships. The acquisition aims to enhance Brookfield's technology footprint and leverage CDK's strong market position. Funding will comprise $3.5 billion in equity, with Brookfield Business Partners investing about $500 million. The transaction is subject to customary closing conditions and expected to close in Q3 2022.
On March 29, 2022, Brookfield Business Partners (NYSE: BBU) announced a partnership to acquire Nielsen Holdings plc (NYSE: NLSN) in an all-cash deal valued at approximately $16 billion. Nielsen, a leader in audience measurement and analytics, generates $3.5 billion in annual revenue, providing essential data for the advertising industry. Brookfield plans to invest $2.65 billion via preferred equity, gaining 45% common equity in Nielsen. The transaction, expected to close in H2 2022, is subject to customary conditions.
Nielsen Holdings has announced its acquisition by a private equity consortium led by Evergreen Coast Capital and Brookfield Business Partners for $28 per share, totaling approximately $16 billion. This deal reflects a 60% premium over Nielsen's stock price prior to acquisition speculation. A 45-day go-shop period allows for alternative bids. The Board unanimously supports the acquisition, highlighting its potential to reinforce Nielsen's position in the media industry. The transaction awaits shareholder and regulatory approvals, expected to close in the second half of 2022.
BROOKFIELD, NEWS, March 18, 2022 – Brookfield Business Partners, alongside institutional partners, announced an agreement to acquire La Trobe Financial for approximately $1.1 billion. La Trobe is a leading non-bank lender in Australia, managing over A$13 billion in assets. The acquisition aims to enhance Brookfield's presence in Australia and capitalize on La Trobe's established track record and competitive advantages in mortgage lending. Funding will involve about $765 million in equity, with Brookfield Business Partners contributing $250 million. Closing is expected in Q2 2022, pending regulatory approvals.
Brookfield Business Partners L.P. (BBU) has successfully completed the establishment of Brookfield Business Corporation (BBUC), effective March 15, 2022. Each BBU unitholder received one class A exchangeable subordinate voting share of BBUC for every two BBU units held. This strategic move enhances their investment flexibility and aims to improve index inclusion, potentially broadening the ownership base. BBU unitholders now collectively own 35.3% of BBUC's shares. The shares have begun trading on both the Toronto and New York Stock Exchanges under the symbol 'BBUC'.
BROOKFIELD, NEWS, March 1, 2022 (GLOBE NEWSWIRE) -- Brookfield Business Partners L.P. (BBU) has finalized its prospectus for a special distribution of class A exchangeable subordinate voting shares of Brookfield Business Corporation (BBUC). This special distribution is similar to a unit split, without altering cash flows or net asset value. Trading will occur under specific designations from March 4 to March 14, 2022, with shares officially trading under their respective symbols starting March 15, 2022.
Brookfield Business Partners L.P. (BBU) has announced a special distribution of class A exchangeable subordinate voting shares (Shares) of Brookfield Business Corporation (BBUC), scheduled for March 15, 2022. The distribution is equivalent to a unit split and will see BBU unitholders receiving one Share for every two BBU units held, without impacting net asset value or cash flows. BBUC aims to align dividends with BBU distributions, targeting a $0.25 annual dividend per Share. Trading for these Shares will begin March 4, 2022, with conditional NYSE and TSX listings approved for BBUC.
Brookfield Business Partners L.P. reported robust financial results for 2021, showing a net income of $643 million, translating to $3.28 per unit, compared to a net loss of $169 million in 2020. Adjusted EBITDA rose to $1,761 million from $1,384 million the previous year, driven by strong performance across Business Services, Industrials, and Infrastructure Services segments. The company also acquired six new businesses, committing $2.2 billion in capital, and plans to fund future growth through a $1 billion preferred equity offering. A quarterly distribution of $0.0625 per unit was declared, payable on March 31, 2022.
Brookfield Business Partners invites participants to its 2021 Fourth Quarter Conference Call & Webcast on February 4, 2022, at 11:00 a.m. ET. Results will be released that morning before 8:00 a.m. ET and can be accessed via their website. The call will include discussions of financial performance and business initiatives, with dial-in options provided for attendees. Brookfield Business Partners is a leader in the business services and industrial sectors, part of Brookfield Asset Management, which manages approximately $650 billion in assets.
BROOKFIELD, NEWS, Nov. 05, 2021 -- Brookfield Business Partners L.P. (NYSE: BBU) reported a robust third quarter for the period ending September 30, 2021. The company achieved a net income of $87 million, contrasting a loss of $19 million in the prior year. Adjusted EBITDA rose to $443 million from $381 million. The firm is set to acquire Scientific Games Lottery for $5.8 billion and has completed acquisitions of DexKo Global for $3.4 billion and Aldo for $104 million. The Board declared a quarterly distribution of $0.0625 per unit, payable on December 31, 2021.