Brookfield Business Partners L.P. (NYSE: BBU)(TSX: BBU.UN) ("Brookfield Business Partners") today announced that it has agreed to issue 8,000,000 limited partnership units ("units"), on a bought deal basis, to a syndicate of underwriters (collectively, the "Underwriters") at a price of
In addition, Brookfield Asset Management Inc. (NYSE: BAM)(TSX: BAM.A)(EURONEXT: BAMA) and certain of its related entities (other than Brookfield Business Partners) (collectively, "Brookfield") will, concurrent with the Offering, purchase, directly or indirectly, 8,000,000 redeemable-exchangeable units of Brookfield Business Partners' holding limited partnership ("REUs") based on the
Brookfield Business Partners has granted the Underwriters an over-allotment option, exercisable in whole or in part for a period of 30 days following closing of the Offering, to purchase up to an additional 1,200,000 units at the Offering Price. If the over-allotment option is exercised in full, the gross offering size would increase to approximately
Brookfield Business Partners intends to use the net proceeds from the Offering, together with the proceeds of the Concurrent Private Placement, for general corporate purposes, including for working capital requirements and to fund growth opportunities.
The Offering and the Concurrent Private Placement are expected to close on or about December 21, 2016.
This news release shall not constitute an offer of securities for sale in
Brookfield Business Partners is a business services and industrial company focused on owning and operating high-quality businesses that benefit from barriers to entry and/or low production costs. Brookfield Business Partners is listed on the
Brookfield Business Partners is the flagship listed business services and industrials company of Brookfield Asset Management Inc. (NYSE: BAM)(TSX: BAM.A)(EURONEXT: BAMA), a leading, a global alternative asset manager with approximately
Contacts: Media: Claire Holland (416) 369-8236 [email protected]
Source: Brookfield Business Partners L.P.
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