Staff of Reuters 1 minute Reuters (Reuters) – Brookfield Business Partners LP and its institutional partners said on Monday that they will pay $3.4 billion for DexKo Global Inc, a U.S. auto parts manufacturer, from private equity firm KPS Capital Partners LP. DexKo, headquartered in Novi, Michigan, manufactures sophisticated trailer running gear and chassis assemblies and employs over 6,000 people. Sterling Group LP sold DexKo Global to KPS Capital Partners in 2017. The deal would be funded with around $1.1 billion in equity, according to Brookfield Business Partners, which is the listed business services and industrials part of Canada’s Brookfield Asset Management. Brookfield expects to invest $400 million in the purchase, which is scheduled to close by the end of the year, with the remainder of the money coming from its institutional partners. The financing will be led by Credit Suisse, Deutsche Bank, BMO Capital Markets, Bank of America, Goldman Sachs, and RBC Capital Markets, according to the business. Amruta Khandekar contributed reporting, and Shailesh Kuber edited the piece./n
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