Obayashi Corporation to Acquire Multiplex from Brookfield for $650 Million

Brookfield Corporation has reached an agreement to sell its construction business, Multiplex, to the Japanese construction firm Obayashi Corporation for $650 million. The transaction marks a significant shift in ownership for the global contractor, which Brookfield has held as part of its portfolio for nearly two decades.

Brookfield acquired Multiplex in 2007 for approximately $7.3 billion AUD, a deal that included the assumption of significant debt at the time. Under the terms of the new agreement, Obayashi will take full control of the construction firm, which maintains a substantial presence in international markets, including Australia, the United Kingdom, and Canada. The sale follows a period of strategic evaluation by Brookfield regarding its infrastructure and construction assets. Obayashi intends to integrate Multiplex into its existing global operations to expand its footprint in key Western markets. The deal remains subject to customary closing conditions and regulatory approvals.

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Date: June 18, 2026

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