Brookfield Business Partners announced an agreement to sell a portion of its interests in three businesses to a new evergreen private equity strategy managed by Brookfield Asset Management. The transaction involves approximate interests of 12% in DexKo, 7% in CDK Global, and 5% in BrandSafway.
Under the terms of the transaction, Brookfield Business Partners will receive units of the New Fund with an initial redemption value of approximately $690 million. This value represents an 8.6% discount to the net asset value of the interests sold, with units expected to be redeemed for cash within 18 months at the same discount.
The sale, expected to be completed on July 4, 2025, is intended to accelerate capital returns through buyback programs, reinvest in the growth of its remaining core businesses, and reduce corporate leverage. CEO Anuj Ranjan stated that the realization of these partial interests is accretive to the trading price of the company's units and shares.
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