Brookfield Sells Multiplex to Obayashi for $650M, Nets $530M Cash
BBUC•Brookfield Business Corporation has agreed to sell global construction unit Multiplex to Obayashi for $650 million, including $530 million cash upfront and an earn-out tied to future performance. The deal boosts Brookfield’s capital recycling efforts, securing nearly $1 billion in proceeds—equivalent to over $4 per share—since January.
1. Sale Details
Brookfield Business Corporation will sell its global construction business Multiplex to Obayashi Corporation for a total consideration of $650 million. The transaction includes approximately $530 million in cash on closing and an earn-out provision based on future business performance.
2. Capital Recycling Impact
Since the start of the year, Brookfield has secured nearly $1 billion from asset sales and distributions, equivalent to over $4 per share. Management highlights this transaction as evidence of its ability to redeploy capital into value-accretive opportunities and support growth initiatives.
3. Transaction Timeline
The sale is subject to customary closing conditions and regulatory approvals, with completion expected in the fourth quarter of 2026. Multiplex, with operations in Australia, the UK and Canada, will transition under Obayashi’s ownership upon closing.
