The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Geoffrey Kwan - RBC Capital Markets, Research Division - Analyst
: My first question was just it seems like there's early cases, I guess, of COVID counts increasing again. Are there any of your businesses that are seeing
any sort of early impacts in terms of if it's production, servicing, supply chain or anything like that?
Question: Geoffrey Kwan - RBC Capital Markets, Research Division - Analyst
: Okay. And my second question was on Sagen. Previously, we had talked about potentially looking to offer mortgage insurance for mortgages that
would be outside of the sandbox of what the federal government would backstop. Is that something the company is still planning on pursuing?
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AUGUST 06, 2021 / 3:00PM, BBU_u.TO - Q2 2021 Brookfield Business Partners LP Earnings Call
Question: Gary Ho - Desjardins Securities Inc., Research Division - Analyst
: First question maybe for Denis. Just on Clarios, you increased the profit improvement target by $100 million. Can you give us a bit of color where
that's coming from? I think you mentioned U.S. operations, or is that elsewhere? And can you comment on the timing in terms of when that full
$400 million may materialize?
Question: Gary Ho - Desjardins Securities Inc., Research Division - Analyst
: And then timing expectations?
Question: Gary Ho - Desjardins Securities Inc., Research Division - Analyst
: And then maybe just staying with Clarios, just on the $1 billion IPO, what was the pushback there? Was it the leverage or valuation on your end? I
just want to gauge what could be done before the next go at it.
Question: Gary Ho - Desjardins Securities Inc., Research Division - Analyst
: And then, maybe on a related topic, we talked about the potential Clarios and Westinghouse monetization last quarter on the call. I know you're
still fairly comfortable capitalized with $1.5 billion of liquidity. But with the delay here, does that change how you view monetization of Westinghouse
or other assets? I just want to get some color on how you think about monetization versus other capital deployment opportunities here.
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