<SEC-DOCUMENT>0001104659-25-094560.txt : 20250929
<SEC-HEADER>0001104659-25-094560.hdr.sgml : 20250929
<ACCEPTANCE-DATETIME>20250929170027
ACCESSION NUMBER:		0001104659-25-094560
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250929
DATE AS OF CHANGE:		20250929

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Brookfield Business Corp
		CENTRAL INDEX KEY:			0001871130
		STANDARD INDUSTRIAL CLASSIFICATION:	CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-93609
		FILM NUMBER:		251357081

	BUSINESS ADDRESS:	
		STREET 1:		250 VESEY STREET
		STREET 2:		15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281
		BUSINESS PHONE:		2124177000

	MAIL ADDRESS:	
		STREET 1:		250 VESEY STREET
		STREET 2:		15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROOKFIELD Corp /ON/
		CENTRAL INDEX KEY:			0001001085
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATORS OF NONRESIDENTIAL BUILDINGS [6512]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		BROOKFIELD PLACE, 181 BAY ST, STE 100
		STREET 2:		PO BOX 762
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J2T3
		BUSINESS PHONE:		416-363-9491

	MAIL ADDRESS:	
		STREET 1:		BROOKFIELD PLACE, 181 BAY ST, STE 100
		STREET 2:		PO BOX 762
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J2T3

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROOKFIELD ASSET MANAGEMENT INC.
		DATE OF NAME CHANGE:	20051116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BRASCAN CORP/
		DATE OF NAME CHANGE:	20010321

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EDPERBRASCAN CORP
		DATE OF NAME CHANGE:	19970904
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <previousAccessionNumber>0001104659-22-037491</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: BROOKFIELD Corp /ON/ -->
          <cik>0001001085</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Class A exchangeable subordinate voting shares, no par value</securitiesClassTitle>
      <dateOfEvent>09/26/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001871130</issuerCIK>
        <issuerCUSIP>11259V106</issuerCUSIP>
        <issuerName>Brookfield Business Corporation</issuerName>
        <address>
          <com:street1>250 VESEY STREET</com:street1>
          <com:street2>15TH FLOOR</com:street2>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10281</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Swati Mandava</personName>
          <personPhoneNum>(416) 363-9491</personPhoneNum>
          <personAddress>
            <com:street1>Brookfield Corporation, Brookfield Place</com:street1>
            <com:street2>181 Bay Street, Suite 100</com:street2>
            <com:city>Toronto</com:city>
            <com:stateOrCountry>A6</com:stateOrCountry>
            <com:zipCode>M5J 2T3</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001001085</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>BROOKFIELD Corp /ON/</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>A6</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>47244876.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>47244876.00</sharedDispositivePower>
        <aggregateAmountOwned>47244876.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>67.5</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>*This amount for Brookfield Corporation ("BN") includes 36,927,129 class A exchangeable subordinate voting shares (the "Class A Shares") of Brookfield Business Corporation (the "Issuer") held by BPEG BN Holdings LP ("BPEG") and other subsidiaries of BN and 10,317,742 Class A Shares held by wholly-owned subsidiaries of Brookfield Wealth Solutions Ltd., a paired entity to BN ("BNT").

**Percentage ownership is based on an aggregate number of outstanding Class A Shares of 69,996,738 as of September 26, 2025.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001861643</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>BAM PARTNERS TRUST</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>A6</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>47244876.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>47244876.00</sharedDispositivePower>
        <aggregateAmountOwned>47244876.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>67.5</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>* Includes 47,244,876 Class A Shares beneficially owned by BN and includes Class A Shares held by wholly-owned subsidiaries of BNT.

** Percentage ownership is based on an aggregate number of outstanding Class A Shares of 69,996,738 as of September 26, 2025.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>BPEG BN HOLDINGS LP</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>A6</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>23535005.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>23535005.00</sharedDispositivePower>
        <aggregateAmountOwned>23535005.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>33.6</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
        <commentContent>* Percentage ownership is based on an aggregate number of outstanding Class A Shares of 69,996,738 as of September 26, 2025.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>BROOKFIELD BUSINESS PARTNERS L.P.</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>D0</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>0.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <commentContent>* Brookfield Business Partners L.P. ("BBU") and its affiliates beneficially own all of the issued and outstanding class B multiple voting shares of the Issuer, which represent a 75% voting interest in the Issuer.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>BROOKFIELD BUSINESS PARTNERS LIMITED</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>D0</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>0.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <commentContent>* Brookfield Business Partners Limited is the general partner of BBU.  BBU and its affiliates beneficially own all of the issued and outstanding class B multiple voting shares of the Issuer, which represent a 75% voting interest in the Issuer.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Class A exchangeable subordinate voting shares, no par value</securityTitle>
        <issuerName>Brookfield Business Corporation</issuerName>
        <issuerPrincipalAddress>
          <com:street1>250 VESEY STREET</com:street1>
          <com:street2>15TH FLOOR</com:street2>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10281</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>Explanatory Note

This Amendment No. 3 (this "Amendment No. 3") amends and supplements the Schedule 13D originally filed on March 24, 2022 (and as amended through Amendment No. 2 thereto, the "Schedule 13D") to reflect the transactions as described in Item 4 of this Amendment No. 3.

Unless otherwise indicated, all references to "$" in this Schedule 13D are to U.S. dollars.

Information and defined terms reported in the original Schedule 13D remain in effect except to the extent amended or superseded by information or defined terms contained in this Amendment No. 3.</commentText>
      </item1>
      <item4>
        <transactionPurpose>Item 4 of the original Schedule 13D is hereby supplemented as follows:

On September 26, 2025 and September 29, 2025, wholly-owned subsidiaries of BN (the "BN Parties") entered into financing arrangements with wholly-owned subsidiaries of BNT, a paired entity to BN (the "BNT Parties"), pursuant to which the BN Parties transferred an aggregate of 24,289,723 Class A Shares (collectively, the "Subject Securities") to the BNT Parties (the "Subject Securities Transfer") in exchange for an aggregate cash payment of $400,000,000 (the "Transfer Value"). The BN Parties are obligated to repurchase the Subject Securities that were transferred to the BNT Parties on September 26, 2025 and September 29, 2025 on June 22, 2026 and June 25, 2026, respectively or such earlier dates that these arrangements are terminated in accordance with their terms, at a price equal to the portion of the Transfer Value paid for the applicable Subject Securities plus a return calculated at a rate of SOFR+1.40% per annum. Unless an event of default has occurred under the financing arrangements, the BN Parties have the right to direct all decisions to be made with respect to voting of the Subject Securities while held by the BNT Parties.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>Item 5(a) - (c) of the original Schedule 13D is hereby amended and restated as follows:

(a)-(b) The information relating to the beneficial ownership of the Class A Shares by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated by reference herein. The percentage of Class A Shares of the Issuer is based on an aggregate number of Class A Shares of 69,996,738 outstanding as of September 26, 2025, and includes (as applicable) Class A Shares beneficially owned by wholly-owned subsidiaries of BNT as described in Item 4 of Amendment No. 1 and subject to the voting arrangements described in Item 4 of Amendment No. 1.</percentageOfClassSecurities>
        <transactionDesc>(c) Other than the transactions described in Item 4 herein, there have been no transactions by the Reporting Persons in the Class A Shares during the past 60 days.</transactionDesc>
      </item5>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>BROOKFIELD Corp /ON/</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Swati Mandava</signature>
          <title>Swati Mandava, Managing Director, Legal and Regulatory</title>
          <date>09/29/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>BAM PARTNERS TRUST</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Kathy Sarpash</signature>
          <title>Kathy Sarpash, Secretary, BAM CLASS B PARTNERS INC., trustee to BAM PARTNERS TRUST</title>
          <date>09/29/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>BPEG BN HOLDINGS LP</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ A.J. Silber</signature>
          <title>A.J. Silber, Director, BROOKFIELD PRIVATE EQUITY INC., general partner of BPEG BN HOLDINGS LP</title>
          <date>09/29/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>BROOKFIELD BUSINESS PARTNERS L.P.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Jane Sheere</signature>
          <title>Jane Sheere, Secretary, BROOKFIELD BUSINESS PARTNERS LIMITED, general partner of BROOKFIELD BUSINESS PARTNERS L.P.</title>
          <date>09/29/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>BROOKFIELD BUSINESS PARTNERS LIMITED</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Jane Sheere</signature>
          <title>Jane Sheere, Secretary</title>
          <date>09/29/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
