Brookfield Asset Management Completes $1.7 Billion Acquisition of Chemelex from nVent Electric

MT Newswires Live

02-03

Brookfield Asset Management (BAM) and its listed affiliate Brookfield Business Partners (BBU) said Monday that they completed the acquisition of Chemelex from nVent Electric for $1.7 billion.

Brookfield's investment was financed with about $830 million in equity, of which Brookfield Business Partners contributed around $210 million for a 25% stake, the companies said.

The balance was funded by institutional partners.

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