Brookfield Business Partners
 |
|
| Public | |
| Traded as | : BBU : BBU.UN |
| Industry | Asset management |
| Headquarters |
Toronto,, Canada New York, USA |
|
Area served
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Worldwide |
|
Key people
|
Cyrus Madon, (CEO) |
| Services | Financial services |
| AUM | US$8.2 billion (2016) |
| Parent | Brookfield Asset Management |
| Website | https://bbu.brookfield.com |
Brookfield Business Partners is a publicly traded limited partnership and the primary public vehicle through which Brookfield owns and operates the business services and industrial operations of its private equity group. It was formed through a spin-off from Brookfield Asset Management in June 2016. Its units trade on the Toronto Stock Exchange (BBU.UN) and New York Stock Exchange (BBU). Brookfield Business Partners is led by Chief Executive Officer Cyrus Madon, who joined Brookfield in 1998 and leads its global private equity group.
In 2016, the company made its first major acquisition, agreeing to acquire a 70% stake in Brazil’s largest private water and sewage company, Odebrecht Ambiental, with the remaining 30% continuing to be held by Fundo de Investimento do Fundo de Garantia do Tempo de Servico.
In 2017, the company sold Maax, a bathroom fixtures maker, to American Bath for more than twice the value it acquired it for in 2008. In Q1 2017, the company announced an agreement to acquire an approximate 85% stake in Greenergy, a supplier of road fuels in the UK and an agreement to purchase 100% of Loblaw gas station operations, one of the largest in Canada.
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Wikipedia