UPDATE 1-Brookfield Asset Management to spin off and list unit

October 7, 2015 11:54 AM

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Oct 7 (Reuters) - Canada's Brookfield Asset Management Inc said it would spin off 35 percent of Brookfield Business Partners LP , which will own almost all of the asset manager's business services and industrial operations assets.

Brookfield Asset Management said it would spin off the business by distributing a special dividend of about $500 million, or 50 cents per share, to its shareholders in the form of units of Brookfield Business Partners (BBP).

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