Brookfield To Spin Off Approx. 35% Of Brookfield Business Partners - Quick Facts

(RTTNews) - Brookfield Asset Management Inc. (BAM) announced it intends to spin off approximately 35% of Brookfield Business Partners L.P. by distributing to shareholders a special dividend estimated to be worth $0.50 per share, or approximately $500 million, in the form of units of Brookfield Business Partners.

Brookfield Business Partners intends to apply to list its units in Canada and the U.S. Brookfield is expected to hold an approximate 65% equity interest, along with the general partner interest, in BBP. The company anticipates completing the spin-off in first quarter, 2016.