0001171843-18-006351.txt : 20180904 0001171843-18-006351.hdr.sgml : 20180904 20180904070031 ACCESSION NUMBER: 0001171843-18-006351 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180904 FILED AS OF DATE: 20180904 DATE AS OF CHANGE: 20180904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Brookfield Business Partners L.P. CENTRAL INDEX KEY: 0001654795 STANDARD INDUSTRIAL CLASSIFICATION: CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37775 FILM NUMBER: 181051231 BUSINESS ADDRESS: STREET 1: 73 FRONT STREET, 5TH FLOOR CITY: HAMILTON STATE: D0 ZIP: HM 12 BUSINESS PHONE: (441) 294-3309 MAIL ADDRESS: STREET 1: 73 FRONT STREET, 5TH FLOOR CITY: HAMILTON STATE: D0 ZIP: HM 12 6-K 1 f6k_083118.htm FORM 6-K
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2018

Commission File Number: 001-37775

Brookfield Business Partners L.P.
(Translation of registrant's name into English)

73 Front Street, 5th Floor
Hamilton, HM 12 Bermuda
(441) 294-3309

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ]      Form 40-F [   ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):


EXHIBIT INDEX

 

Exhibit Number   Description
   
99.1 Brookfield Business Partners to Acquire Controlling Stake in Leading Brazilian Fleet Management Company Ouro Verde


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

      Brookfield Business Partners L.P. by its general partner, Brookfield Business Partners Limited    
   
  
Date: September 4, 2018     /s/ Jane Sheere    
  Jane Sheere
  Corporate Secretary
  
EX-99.1 2 exh_991.htm PRESS RELEASE EdgarFiling

EXHIBIT 99.1

Brookfield Business Partners to Acquire Controlling Stake in Leading Brazilian Fleet Management Company Ouro Verde

BROOKFIELD, NEWS, Sept. 04, 2018 (GLOBE NEWSWIRE) -- Brookfield Business Partners L.P. (NYSE:BBU) (TSX:BBU.UN) ("Brookfield Business Partners"), together with institutional partners (collectively "Brookfield"), announced today an agreement to acquire a 55% controlling interest in Ouro Verde Locação e Seviços S.A. (“Ouro Verde”), a leading Brazilian heavy equipment and light vehicle fleet management company for approximately $170 million (R$660 million). 

Ouro Verde leases more than 25,000 heavy equipment and light vehicles under multi-year contracts and provides related maintenance, operations, and other services to a diversified base of leading Brazilian and global corporate clients.

“Having operated for more than 40 years, Ouro Verde has an experienced management team, nationwide presence, long-term client relationships, and a reputation for excellence in service,” said Alexandre Thiollier, Senior Vice President of Brookfield Business Partners in Brazil. “Given the resilience of the business and favorable growth trends within the fleet management industry in Brazil more broadly, we’re confident Ouro Verde is well positioned to capitalize on attractive growth opportunities. We look forward to partnering with management and contributing our expertise and presence in Brazil to further strengthen and grow the company.”

Investment highlights:

  • Strong market position.  Ouro Verde has established itself as one of the leading heavy equipment and light vehicles fleet management companies in the Brazil, with a large multi-asset fleet and operations nationwide.
     
  • Strong value proposition to a high quality client base.  Ouro Verde has a diversified base of corporate clients across the country and long-term relationships with key clients. It provides a highly competitive offering to clients, significantly reducing their cost of fleet ownership while providing valuable services that allow them to focus on their core business.
     
  • Stable contracted cash flows.  Ouro Verde provides its services under multi-year contracts and has a high contract renewal rate. Ouro Verde has demonstrated consistent performance across economic cycles.

Funding
Brookfield Business Partners will commit to fund up to $70 million of the equity on closing using existing liquidity. Prior to or following closing, a portion of Brookfield Business Partners' investment may be syndicated to other institutional partners.

Closing
Closing of the transaction is subject to customary approvals and is expected to occur before the end of the year.

Brookfield Business Partners is a business services and industrial company focused on owning and operating high-quality businesses that benefit from barriers to entry and/or low production costs. Brookfield Business Partners is listed on the New York and Toronto stock exchanges. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.

Brookfield Business Partners is the flagship listed business services and industrials company of Brookfield Asset Management Inc. (NYSE:BAM)(TSX:BAM.A)(EURONEXT:BAMA), a leading global alternative asset manager with more than $285 billion of assets under management. For more information go to www.brookfield.com.

For more information, please visit our website at https://bbu.brookfield.com or contact:

Media:
Claire Holland
Tel: (416) 369-8236
Email: claire.holland@brookfield.com  
Investors:
Gwyn Hemme
Tel: (416) 359-8632
Email: gwyn.hemme@brookfield.com