Brookfield Business Corporation has agreed to sell its global construction business Multiplex to Obayashi Corporation, one of Japan's largest construction companies, for $650 million. The deal includes approximately $530 million of cash proceeds on closing and an earn-out based on future business performance. CEO Anuj Ranjan said the transaction delivers a strong outcome for shareholders and noted that the company has secured nearly $1 billion in proceeds, equivalent to over $4 per share of cash from asset sales and distributions since the start of the year. Multiplex, founded in Australia in 1962 and acquired by Brookfield in 2007, has significant operations across Australia, the United Kingdom and Canada. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals.
Brookfield Business CorpBrookfield Business Corp sells Multiplex for $650M, generating $530M cash and an earn-out, delivering strong shareholder returns.
Brookfield Asset Management Ltd.
Obayashi CorporationObayashi acquires Multiplex, expanding its global construction operations.