Brookfield Business Selling Multiplex to Japan's Obayashi For $650 Million
Brookfield Business (BBUC.TO) is selling its its global construction business Multiplex to Obayashi, a Japanese construction company, for $650 million, the company said on Thursday.The sale price includes $530 million of cash proceeds on closing and an earn-out based on future business performance, a statement said. The transaction is expected to close in the fourth quarter of 2026.Multiplex, which was acquired by Brookfield in 2007 and became a standalone construction business as part of Brookfield Business in 2016, operates across Australia, the United Kingdom and Canada."With this transaction, we have secured nearly $1 billion in proceeds - equivalent to over $4 per share of cash from asset sales and distributions since the start of the year. Demand for what we do - buying and operationally transforming essential industrial and services businesses - has rarely been stronger. We are in an excellent position to build on our strong momentum in the second half of the year and continue compounding long-term value for shareholders," said Brookfield Business chief executive Anuj Ranjan.Brookfield Business shares were last seen up $0.72, to $32.63 in U.S. pre-market trading.
