BRIEF-Brookfield Asset announces date for spin off of Brookfield Business Partners

Mon May 16, 2016 6:59am EDT
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May 16 (Reuters) - Brookfield Asset Management

* On june 20, 2016, shareholders of record as of june 2, 2016 will receive one bbp unit for every 50 shares of brookfield

* Anticipated that bbp's distribution policy will be to make quarterly cash distributions equal to $0.0625 per unit

* Bbp anticipates that its first quarterly distribution will be paid on september 30, 2016

* "distribution amount is not expected to grow as bbp intends to reinvest its capital"

* Announces date for spin off of brookfield business partners Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)