Canada's Brookfield Business Partners acquires Modulaire Group for $5 billion (updated)

Brookfield Business Partners LP

27/06/2021 21:43

(Adds details from statement)
    June 27 (Reuters) - Canada's real estate service provider
Brookfield Business Partners  BBU_u.TO  announced on Sunday an
agreement to acquire UK-based Modulaire Group  IPO-MODU.L ,
which is backed by private equity firm TDR capital, for $5
billion.
    Brookfield's investment will be funded with about $1.6
billion of equity and the company intends to fund about $500
million, with the balance funded by institutional partners, the
company said.
    Modulaire Group, an infrastructure services company, said
the transaction is expected to close in the fourth quarter.
    Modulaire's current management team will remain with the
company following its acquisition by Brookfield Business
Partners, the company said.

 (Reporting by Sabahatjahan Contractor in Bengaluru
Editing by Matthew Lewis and Nick Zieminski)
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