US Markets

Brookfield to buy 57% in Genworth's Canada unit in $1.81 bln deal

Credit: REUTERS/MARK BLINCH

Asset manager Brookfield Business Partners LP said on Tuesday it would buy 57% in Genworth Financial Inc's Canadian mortgage insurance unit for about C$2.4 billion ($1.81 billion).

Aug 13 (Reuters) - Asset manager Brookfield Business Partners LP BBU_u.TO said on Tuesday it would buy 57% in Genworth Financial Inc's GNW.N Canadian mortgage insurance unit for about C$2.4 billion ($1.81 billion).

Brookfield would buy about 4.9 million common shares of Genworth MI Canada Inc for C$48.86 per share, the company said. [https://reut.rs/2Z2K7LR]

($1 = 1.3252 Canadian dollars)

(Reporting by Abhishek Manikandan in Bengaluru; Editing by Sriraj Kalluvila)

((Abhishek.Manikandan@thomsonreuters.com; within the U.S. +1 646 223 8780, outside the U.S. +91 80 6749 9246;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More