Brookfield Business Partners commences limited partnership unit NCIB
Brookfield Business Partners announced that the Toronto Stock Exchange has accepted a notice filed by Brookfield Business Partners of its intention to commence a normal course issuer bid for its limited partnership units. Brookfield Business Partners believes that in the event the units trade in a price range that does not fully reflect their value, the acquisition of units may represent an attractive use of available funds. Under the normal course issuer bid, the Board of Directors of the general partner of Brookfield Business Partners authorized the partnership to repurchase up to 5% of the issued and outstanding units, or 2,592,264 units. At the close of business on August 9, 2017, there were 51,845,298 units issued and outstanding. Under the normal course issuer bid, Brookfield Business Partners may purchase up to 14,580 units on the TSX during any trading day, which represents 25% of the average daily trading volume of 58,321 units on the TSX for the period February 1, 2017 to July 31, 2017. Repurchases are authorized to commence on August 15, 2017 and will terminate on August 14, 2018, or earlier should Brookfield Business Partners complete its repurchases prior to such date.