January 5, 2018

Willkie represents Brookfield in the transaction, expected to close in the third quarter of 2018.

On January 4, Brookfield Business Partners L.P. (NYSE:BBU) (TSX:BBU.UN) announced that it has entered into an agreement to acquire 100% of Westinghouse Electric Company, a leading global provider of infrastructure services to the power generation industry, currently owned by Toshiba Corp.

The $4.6 billion transaction is expected to be funded with approximately $1 billion of equity, approximately $3 billion of long-term debt financing and the remainder by the assumption of certain pension, environmental and other operating obligations. Brookfield Business Partners will commit to fund approximately 50% of the equity on closing using existing liquidity.

Closing of the transaction remains subject to Bankruptcy Court approval and customary closing conditions including, among others, regulatory approvals. Closing is expected to occur in the third quarter of 2018.

Brookfield Business Partners is a business services and industrials company focused on owning and operating high-quality businesses that benefit from barriers to entry and/or low production costs. Brookfield’s reputation as a long-term owner and operator of critical infrastructure in the U.S. and globally, and strong facilities management experience, will enhance Westinghouse’s position as a leading global infrastructure services provider to the power generation industry.

As a market leader in its field, Westinghouse is the largest service provider to the world's nuclear power facilities, with a strong history of innovation. An iconic American company, Westinghouse provides customers with sophisticated engineering, maintenance, facilities management and repair services to its global customer base. It also provides a full suite of specialized parts and components, many of which are licensed or patented, as well as industry-leading engineering and other services that enhance the safety, efficiency and reliability of its customers' facilities.

The Willkie deal team was led by partners Matthew Feldman, William Gump, John Longmire and Kfir Abutbul, and included partners Priya Aiyar, Leonard Klingbaum, François Feuillat, Amir Jahanguiri, Anthony Carbone, Robert Meyer, Spencer Simon, Michael Katz, David Mortlock and Daniel Alvarez; national partners Gianluca Cattani and Faustine Viala; counsel Jonathan Konoff, Jeffrey Clancy, Weston Eguchi, William Thomas, Peter Allman and Andrew Spital; special European counsel Charles-Antoine Erignac, associates Daniel Elizondo, Timothy Porter, David Updegrove, Ryan Hartnett, Matteo Matteucci, Daniel Johnstone, Katie Luton, Gabrielle Reddé, Elena Meloni, Michael Marietta, Ji Hun Kim, Debra McElligott, Derek Osei-Bonsu, Mehveen Riaz, John Brennan, Nikki Cassidy, Andrea Hwang, David Axelson, Eric Neidle, Kapiljeet Dargan, Jessica Sutton, Christine Cea, Rachel Dooley, Max Goodman, Annise Maguire, Ryan Stott, Sherrone Torres, Timothy DeKeyser, Timothy Dembo, Noman Goheer and Alex Moyer; and law clerks Ciara Copell, Timothy Sullivan, Alec Smith and Kyle Burns.

Matthew A. Feldman Chairman Business Reorganization & Restructuring
Michael Katz
Michael A. Katz Partner Executive Compensation & Employee Benefits
Daniel Alvarez
Daniel K. Alvarez Partner Privacy, Cybersecurity & Data Strategy
Gianluca Cattani
Gianluca Cattani Partner, Delfino e Associati Corporate & Financial Services
Jeffrey Clancy
Jeffrey B. Clancy Partner Insurance - Transactional and Regulatory