On March 18, 2022, it was announced that Brookfield Business Partners L.P. and Brookfield Business Corporation acquired La Trobe Financial.
Under the terms of the transaction, Brookfield Business Partners LP (NYSE: BBU) and Brookfield Business Corporation (NYSE: BBUC) (collectively “Brookfield”), acquired La Trobe Financial (“La Trobe”) for approximately $1.1 billion, which includes contingent payments tied to achieving certain performance milestones. The transaction, subject to customary closing conditions, is expected to close in the second quarter. Further terms of the deal were not disclosed.
Brookfield, based in Bermuda, is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position.
La Trobe, based in Australia, is a diversified credit asset manager with more than A$13 billion in assets under management. La Trobe finances loans to high-quality borrowers and manages fixed income credit funds for more than 50,000 qualified retail investors, primarily in residential property-backed loans.
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