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Genworth Completes Sale of its Stake in Genworth MI Canada Inc. to Brookfield Business Partners

Dec 12, 2019 - PR Newswire

PR Newswire

 Genworth Financial, Inc. (NYSE: GNW) today announced the closing of the sale of its majority stake in Genworth MI Canada Inc. (Genworth Canada) to Brookfield Business Partners (NYSE: BBU) (TSX: BBU.UN).

As previously disclosed, the purchase price was CAD$48.86 per share, reflecting a total transaction value of approximately CAD$2.4 billion. The purchase price was subject to certain adjustments, including Genworth Canada's payment of a special dividend in October 2019 to...