Brookfield Asset Management plans to spin off 35% of Brookfield Business Partners, the primary vehicle through which Brookfield will own and operate its business services and industrial operations, which generated $200M in FFO last year, with an equity value of $2B as of June. Brookfield CEO Bruce Flatt noted his company has seen “substantial growth” in its private equity platform and sees continued opportunities globally. BAM will spin off BBP by distributing a special dividend of US$500M (or $0.50 per share) in the form of BBP units. BAM will hold a 65% equity interest, as well as a general partner interest.
Brookfield Asset Management to Spin Off New Unit
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Related Topics:
Brookfield Asset Management Inc.
, Brookfield Business Partners LP
, Brookfield Canada
, Bruce Flatt
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