Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), together with institutional partners, has completed the previously announced acquisition of an 85% controlling stake in Greenergy Fuels Holdings Ltd. Existing Greenergy management shareholders retain a 15% share in the business.
Brookfield Business Partners has bought out all existing non-management shareholders including Tesco pension fund which owned 35% of Greenergy. Other shareholders included Owens family (32%), Seerave (24%)
Greenergy is a leading provider of road fuels in the U.K. with over 300 kT of biodiesel production capacity, significant import and storage infrastructure and an extensive distribution network which delivers over 18 billion liters of road fuels annually. Greenergy also supplies road fuel in Canada and has operations in Brazil, the U.S. and the United Arab Emirates.
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 the flagship listed business services and industrials company of Brookfield Asset Management Inc.
photo credit: Greenergy