Spin-off of Brookfield Business Partners to occur on June 20
Toronto-based alternative assets manager Brookfield Asset Management said the spin-off and listing of its private equity investment arm, Brookfield Business Partners LP (BBP), will occur on June 20, 2016. The spin-off of BBP, first announced in October 2015, will be accomplished through a special distribution to shareholders valued at about US$0.50 per Brookfield share, or about US$500 million in total. Cyrus Madon, CEO of BBP and a senior managing partner of Brookfield, said the spin-off will give public-market investors exposure to growth opportunities and assets within Brookfield's private equity group. Brookfield is expected to retain about 78 percent of the vehicle's total equity interest.
16 May 2016•6 mins read
