Brookfield Business Partners L.P. (NYSE:BBU) together with institutional partners entered into a definitive agreement to acquire a majority stake in DexKo Global Inc. from KPS Capital Partners, LP for $3.4 billion on July 5, 2021. Brookfield and institutional partners' investment will be funded with approximately $1.1 billion of equity, of which Brookfield Business Partners intends to invest approximately $400 million. The balance of the equity investment will be funded by institutional partners. Prior to or following closing, a portion of Brookfield Business Partners' commitment may be syndicated to other institutional investors. Financing will be led by a syndicate of banks including Credit Suisse, Deutsche Bank, BMO Capital Markets, Bank of America, Goldman Sachs and RBC Capital Markets. The acquisition will provide an opportunity to Brookfield Business Partners to enhance margins and grow through operational improvements and bolt-on acquisitions. Brookfield Business Partners will partner with DexKo's management team to further build on an established track record of value creation. Closing of the transaction remains subject to customary closing conditions including regulatory approvals. The transaction was notified to the EU Commission for approval on August 2, 2021. The deadline for the EU Commission approval was set for September 6, 2021. The transaction has been approved by the EU Commission on August 24, 2021. Closing is expected by the end of 2021. Leonard Kreynin, Cheryl Chan, Hilary Dengel, Jonathan B. Brown, David H. Schnabel, Jeffrey P. Crandall and Pritesh P. Shah of Davis Polk & Wardwell LLP acted as legal advisor to Brookfield Business Partners and institutional partners. Angelo Bonvino, Michael Vogel, Monica Thurmond, Lindsey Wiersma, Andrew Gaines, Meghan Fox, Charles Googe, David Mayo, Aidan Synnott, Steven Herzog, Peter Jaffe, Peter Fisch, Richard Elliott, Yuni Sobel, Marta Kelly and William O'Brien of Paul Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel and Goldman Sachs & Co. LLC, supported by Credit Suisse Group AG (SWX:CSGN) and J.P. Morgan Securities LLC, served as lead financial advisor to KPS and DexKo.

Brookfield Business Partners L.P. (NYSE:BBU) together with institutional partners completed the acquisition of a majority stake in DexKo Global Inc. from KPS Capital Partners, LP in October 4, 2021. Brookfield Business Partners funded approximately $400 million of the $1.1 billion equity investment for a 35% ownership interest, with the balance from institutional partners. Jeff White of Weil, Gotshal & Manges LLP represented Brookfield on Antitrust aspects.