Jun 18, 2026 – 2.22pmCanadian investment giant Brookfield has agreed to sell its loss-making construction firm Multiplex to Obayashi Corporation, one of Japan’s largest construction companies, for $US650 million ($924 million) after the building firm went into the red over three consecutive years.Brookfield has been propping up Multiplex, injecting $500 million in cash over the past three years as earnings from the Australian builder, one of the country’s biggest, fell amid rising construction costs.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Brookfield sells Multiplex to Japanese giant for $924m
The sale comes after the company, one of Australia’s biggest builders, posted consecutive losses, leading its Canadian parent to inject $500 million in cash.
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