SCHEDULE 13G: Royal Bank of Canada Discloses 9.42% Stake in Brookfield Business Partners LP

Royal Bank of Canada has filed a Schedule 13G, revealing its beneficial ownership of 9.42% of Brookfield Business Partners LP's Limited Partnership Units as of December 31, 2016.

Summary

• Royal Bank of Canada (RBC) reported beneficial ownership of 4,884,949 Limited Partnership Units of Brookfield Business Partners LP.
• This ownership represents 9.42% of the total class of securities.
• RBC holds shared voting power and shared dispositive power over all 4,884,949 units.
• The filing indicates that RBC is classified as a parent holding company or control person.
• Several RBC subsidiaries, including RBC Capital Markets, LLC, RBC Global Asset Management Inc., RBC Phillips Hager & North Investment Counsel Inc., and RBC Private Counsel (USA) Inc., are identified as entities through which the securities are held.

Sentiment

Score: 5

Explanation: The document is a factual regulatory disclosure of beneficial ownership and does not convey positive or negative sentiment regarding the issuer's performance or outlook. The delay in filing is a factual observation, not a sentiment.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11." (Certification by Terry Fallon, Managing Director of Royal Bank of Canada)

Industry Context

This Schedule 13G filing is a standard regulatory disclosure required when an entity acquires beneficial ownership of more than 5% of a class of a company's voting equity. For financial institutions like Royal Bank of Canada, such filings are routine and reflect their investment activities across various sectors, including partnerships like Brookfield Business Partners LP, which operates in business services.

Stakeholder Impact

• Shareholders of Brookfield Business Partners LP gain transparency regarding a significant institutional holder, Royal Bank of Canada, and its 9.42% stake.
• For Royal Bank of Canada, this filing fulfills regulatory obligations related to its investment holdings.

Key Dates

Keywords

Royal Bank of Canada, Brookfield Business Partners LP, Schedule 13G, Beneficial Ownership, Limited Partnership Units, SEC Filing, Institutional Ownership, Financial Disclosure, RBC