Welcome to our dedicated page for Brookfield Business Partners news (Ticker: BBU), a resource for investors and traders seeking the latest updates and insights on Brookfield Business Partners stock.
Brookfield Business Partners LP (BBU) operates globally across business services, infrastructure, and industrial sectors, focusing on essential operations with sustainable competitive advantages. This page provides investors and stakeholders with direct access to official press releases, financial updates, and strategic developments.
Find timely updates on earnings reports, mergers & acquisitions, leadership changes, and operational milestones. Our curated collection ensures you stay informed about BBU's initiatives in critical markets worldwide, from North America to emerging economies.
Key areas covered include cost-efficiency improvements, infrastructure project developments, and portfolio diversification efforts. Bookmark this page for streamlined access to verified information supporting informed analysis of BBU's performance in complex industrial and service sectors.
Brookfield Business Partners L.P. (NYSE: BBU) reported strong financial results for Q2 2021, with a net income loss of $15 million, an improvement from $109 million in Q2 2020. Company FFO reached $356 million, up from $173 million year-over-year. EBITDA increased to $381 million, driven by growth in Business Services and Industrials segments. The company plans to enhance investor appeal through a new corporate structure and announced three significant acquisitions, including Modulaire Group for $5 billion. Liquidity stands at $2.6 billion, positioning the firm for further growth.
Brookfield Business Partners (BBU) has announced plans to create a Canadian corporation named Brookfield Business Corporation (BBUC), aimed at enhancing investor flexibility and attracting new investors. BBU plans to distribute class A shares of BBUC to existing unitholders, akin to a unit split, but with no change to cash flows or net asset value. Each unitholder will receive one BBUC class A share for every two BBU units held. The expected annual distribution remains at $0.25 per unit, with a similar dividend for BBUC shares, increasing total distributions by 50% post-distribution. BBUC aims to apply for listings on NYSE and TSX.
KPS Capital Partners has agreed to sell its portfolio company, DexKo Global Inc., to Brookfield Business Partners L.P. for $3.4 billion. DexKo, a leading supplier of chassis technology with over 130 years of experience, has been transformed under KPS' ownership, completing 15 acquisitions and investing over $600 million to enhance its market position. The transaction is subject to customary closing conditions. Brookfield aims to support DexKo's future growth following its significant development and profitability achieved during KPS' ownership.
Brookfield Business Partners (NYSE:BBU) has agreed to acquire DexKo Global Inc. for $3.4 billion, enhancing its industrials operations. DexKo is a leading manufacturer of engineered components for trailers and recreational vehicles, with a presence in North America, Europe, and Australia. The acquisition aims to leverage DexKo's robust market position and cash flow generation capabilities, alongside operational improvement opportunities. Funding includes approximately $1.1 billion of equity, with Brookfield Business Partners investing around $400 million. The transaction is expected to close by the end of 2021.
Brookfield Business Partners invites investors to its 2021 Second Quarter Conference Call and Webcast on August 6, 2021, at 11:00 a.m. ET. The company will discuss financial results and current initiatives, with results available prior to 8:00 a.m. ET on the same day. Interested participants can join via phone or webcast. Brookfield Business Partners, traded under the symbols BBU.UN on the TSX and BBU on the NYSE, focuses on high-quality business ownership benefiting from entry barriers and low production costs.
BROOKFIELD announced its agreement to acquire Modulaire Group for approximately $5 billion. Modulaire, a leader in modular leasing services in Europe and Asia-Pacific, operates a fleet of around 260,000 modular units across 25 countries. The acquisition aims to enhance Brookfield's operations in the growing modular workspace sector, leveraging Modulaire's strong customer base and geographical diversification. Funding will come from $1.6 billion in equity, with Brookfield Business Partners contributing $500 million. The transaction is expected to close by the end of 2021, pending regulatory approvals.
Brookfield Business Partners L.P. (NYSE: BBU) reported strong financial results for Q1 2021, with net income of $530 million ($3.57 per unit), up from a loss of $126 million in Q1 2020. Company EBITDA increased to $387 million, driven by the Business Services and Industrials segments. Funds from Operations (FFO) reached $217 million ($1.46 per unit), compared to $152 million ($1.01 per unit) in the prior year. The company also completed the privatization of Sagen MI Canada, investing around $185 million to boost its ownership. A quarterly distribution of $0.0625 per unit was declared.
Brookfield Business Partners L.P. (NYSE: BBU) has successfully completed its acquisition of Sagen MI Canada Inc. (TSX: MIC) by purchasing all outstanding common shares not previously owned by Brookfield at a cash price of C$43.50 per share, totaling approximately C$1.6 billion. The common shares will be delisted from the Toronto Stock Exchange on April 6, 2021. Post-acquisition, Brookfield holds 100% of the Class A Common Shares, which will not be listed on the TSX.
Brookfield Business Partners will hold its 2021 First Quarter Conference Call on May 5, 2021, at 11:00 a.m. ET. Management will discuss quarterly results and current business initiatives, with results released prior to 8:00 a.m. ET. Investors can join the call by dialing +1 (866) 688-9431 or accessing the webcast via their website. A replay will be available until May 11, 2021 for those unable to attend.
Brookfield Business Partners reported the filing of its 2020 annual report on Form 20-F with the SEC and Canadian securities authorities. This includes audited financial statements for the year ending December 31, 2020. The company, a leading player in business services and industrials, focuses on high-quality businesses with barriers to entry. It operates under Brookfield Asset Management, managing approximately $600 billion in assets. Reports are accessible via their website, and hard copies are available upon request.
