Obayashi Corporation

Brookfield Business has agreed to sell its global construction unit, Multiplex, to Japanese construction group Obayashi for $650 million. The deal includes roughly $530 million in cash at closing and an earn-out tied to Multiplex's future performance, with completion expected in the fourth quarter of 2026. Multiplex, headquartered in London and operating across Australia and Canada, employs around 2,500 people and recorded approximately $3.80 billion in net sales for the 2025 financial year. Brookfield Business Corporation CEO Anuj Ranjan said the transaction brings total proceeds from asset sales and distributions to nearly $1 billion since the start of the year, amounting to over $4 per share in cash. Obayashi plans to use the acquisition to strengthen its position in Australia, the UK, and Canada.

Obayashi Corp. has agreed to acquire BCI UK Holdings Limited, the holding company that owns construction business operator Multiplex Global Ltd. The Japanese construction firm previously collaborated with Multiplex on the main stadium for the Sydney Olympic Games. Following the acquisition, Multiplex, BCI and select units will become Obayashi's specified subsidiaries. UK-based Multiplex employs around 2,500 people and operates building construction businesses in Australia, the United Kingdom and Canada, recording net sales of around $3.80 billion and EBITDA of around $62 million in fiscal 2025. Obayashi said the deal supports its plan to expand its overseas construction business, particularly in North America and Southeast Asia.