The Financial Post reports in its Friday edition that Brookfield Business Corp. has agreed
to sell Multiplex, the construction company that built London's Wembley Stadium, to Japan's Obayashi Corp. for $650-million (all figures U.S.). A Bloomberg dispatch to the Post says Brookfield will receive $530-million in cash on closing and an earn-out based on future business performance. The transaction is expected to complete in the fourth quarter, pending closing conditions and regulatory approvals. Anuj Ranjan, chief executive officer of Brookfield Business, said the deal meant his firm had hit about $1-billion in proceeds from asset sales this year.
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