Brookfield to sell Multiplex to Obayashi for $650 million

Brookfield Business Corporation agrees to sell Multiplex to Obayashi Corporation for $650 million, marking a successful exit after years of operational transformation. The transaction highlights Brookfield’s ability to enhance portfolio company performance, recycle capital and drive long-term value creation.

TORONTO, June 18, 2026 (GLOBE NEWSWIRE) -- Brookfield Business Corporation (NYSE, TSX: BBUC), today announced that it has agreed to sell its global construction business Multiplex (or the “business”) to Obayashi Corporation, one of Japan’s largest construction companies, for $650 million including approximately $530 million of cash proceeds on closing and an earn-out based on future business performance.

Anuj Ranjan, CEO of Brookfield Business Corporation, said: “The transaction delivers a strong outcome for our shareholders, demonstrating our ability to continue recycling capital and support the growth of our business. Multiplex is a leading global construction business with a track record of delivering some of the most complex large-scale projects in the world. Since acquiring it, we have worked with management to sharpen operational focus, strengthen profitability and reposition the business for its next chapter.”

He added: “With this transaction, we have 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. Demand for what we do – buying and operationally transforming essential industrial and services businesses – has rarely been stronger. We are in an excellent position to build on our strong momentum in the second half of the year and continue compounding long-term value for shareholders.”

Founded in Australia in 1962, Multiplex was acquired by Brookfield in 2007. After spinning out its real estate assets and facilities management business, Multiplex became a standalone construction business as part of Brookfield Business Corporation in 2016.

Multiplex has significant operations across Australia, the United Kingdom and Canada. The business has delivered many of the world’s most complex and iconic developments across the commercial, residential, healthcare, infrastructure, hospitality and mixed-use sectors.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the fourth quarter of 2026.

Brookfield Business Corporation (NYSE, TSX: BBUC) is a global owner and operator of vital industrial and business services operations. Our objective is to acquire market-leading businesses for value, execute our operational improvement plans to increase cash flows, and recycle capital to compound long-term growth. For more information, please visit https://bbuc.brookfield.com.

Brookfield Business Corporation is the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with over $1 trillion of assets under management.

For more information, please contact:

Media:
Marie Fuller
Tel: +44 207 408 8375
Email: marie.fuller@brookfield.com
| Investors:
Alan Fleming
Tel: +1 (416) 645 2736
Email: alan.fleming@brookfield.com

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Fund manager

Brookfield Asset Management

Toronto, Canada

Brookfield is invested in long-life, high-quality assets and businesses around the world that form the backbone of the global economy. With over $925 billion in assets under management, and over 100 years’ experience as an owner and operator, we put our own capital to work in virtually every transaction, aligning interests with our partners and investors, and bringing the strengths of our operational expertise, global reach and large-scale capital to bear in everything we do.

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