Court-approved deal swaps Brookfield (NYSE: BBU) units 1-for-1
Rhea-AI Filing Summary
Brookfield Business Corp director Donald William Mackenzie disposed of his partnership units and exchangeable shares as part of a corporate reorganization. On March 27, 2026, he returned 6,715 Class A exchangeable subordinate voting shares and 13,430 non-voting limited partnership units to the issuer.
These dispositions occurred under a court-approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia), through which holders of these securities received class A subordinated voting shares of Brookfield Business Corporation on a one-for-one basis, and Brookfield Business Partners L.P. and Brookfield Business Holdings Corporation became its subsidiaries.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 13,430 shares
Net Sell
2 txns
Insider
Mackenzie Donald William
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Exchangeable Subordinate Voting Shares | 6,715 | $0.00 | $0.00 |
| Disposition | Non-Voting Limited Partnership Units | 13,430 | $0.00 | $0.00 |
Holdings After Transaction:
Class A Exchangeable Subordinate Voting Shares — 0 shares (Direct);
Non-Voting Limited Partnership Units — 0 shares (Direct)
Footnotes (2)
- F1. On March 27, 2026, pursuant to an arrangement agreement dated as of November 6, 2025, Brookfield Business Partners L.P. ("BBU"), Brookfield Business Holdings Corporation (formerly Brookfield Business Corporation) ("BBHC") and Brookfield Business Corporation (formerly 1559985 B.C. Ltd.) (the "Corporation") completed a court approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the "Arrangement"), pursuant to which, among other things, holders of non-voting limited partnership units of BBU (the "BBU Units") and holders of BBHC's class A exchangeable subordinate voting shares (the "BBHC Exchangeable Shares") received class A subordinated voting shares of the Corporation in exchange for their BBU Units and BBHC Exchangeable Shares on a one-for-one basis. As a result of the Arrangement, BBU and BBHC became subsidiaries of the Corporation. This Form 4 represents BBU Units and BBHC Exchangeable Shares transacted pursuant to the Arrangement.
- F2. Represents BBHC Exchangeable Shares which, prior to the Arrangement, were exchangeable into BBU Units on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BBU). Pursuant to the Arrangement, the BBHC Exchangeable Shares were exchanged for class A subordinated voting shares of the Corporation on a one-for-one basis.
Key Figures
Exchangeable shares disposed: 6,715 shares
Partnership units disposed: 13,430 units
Exchange ratio: 1-for-1
3 metrics
Exchangeable shares disposed
6,715 shares
Class A exchangeable subordinate voting shares disposed March 27, 2026
Partnership units disposed
13,430 units
Non-voting limited partnership units disposed March 27, 2026
Exchange ratio
1-for-1
BBU units and BBHC exchangeable shares into class A subordinated voting shares
Key Terms
plan of arrangement, non-voting limited partnership units, class A exchangeable subordinate voting shares, Business Corporations Act (British Columbia)
4 terms
plan of arrangement regulatory
"completed a court approved plan of arrangement under section 288"
A plan of arrangement is a formal, court-approved agreement that reorganizes ownership or assets of a company—such as merging businesses, exchanging shares for cash or other securities, or splitting off parts of the company. Investors should care because it can change the value, number, and rights of their holdings and is often binding once approved by both shareholders and a court, offering more legal certainty than a simple vote. Think of it as a legally supervised recipe for how a company will be reshaped and who ends up with what.
non-voting limited partnership units financial
"holders of non-voting limited partnership units of BBU (the "BBU Units")"
Business Corporations Act (British Columbia) regulatory
"under section 288 of the Business Corporations Act (British Columbia)"
A provincial law that sets the rules for forming, managing and winding up corporations registered in British Columbia, including how directors and shareholders must act, what information companies must disclose, and how disputes are handled. Investors care because it provides a predictable rulebook — like referees and play-by-play rules in a game — that protects shareholder rights, clarifies management duties and disclosure obligations, and therefore affects a company’s legal risk and investment value.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Brookfield Business Corp (BBU) disclose in this Form 4?
Brookfield Business Corp reported that director Donald William Mackenzie disposed of 6,715 Class A exchangeable subordinate voting shares and 13,430 non-voting limited partnership units. The disposition was to the issuer and stemmed from a broader court-approved corporate reorganization.
What is the one-for-one exchange mentioned for Brookfield Business Corp (BBU) holders?
Holders of non-voting limited partnership units and class A exchangeable subordinate voting shares received class A subordinated voting shares of Brookfield Business Corporation on a one-for-one basis. This fixed exchange ratio applied to each unit or exchangeable share involved in the plan of arrangement.
How did the plan of arrangement affect Brookfield Business Partners L.P. (BBU) and Brookfield Business Holdings Corporation?
Following the plan of arrangement, Brookfield Business Partners L.P. and Brookfield Business Holdings Corporation became subsidiaries of Brookfield Business Corporation. This structural change was implemented alongside the one-for-one exchange into class A subordinated voting shares of the new corporation.
What legal framework governed the Brookfield Business Corp (BBU) reorganization in this filing?
The reorganization was completed through a court-approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia). This framework governed the exchange of partnership units and exchangeable shares into class A subordinated voting shares of Brookfield Business Corporation.