Canada’s Brookfield Business Partners to buy rest of insurer Genworth for $1.2 bln

Oct 26 (Reuters) – Mortgage insurer Genworth MI Canada said on Monday Brookfield Business Partners will buy the remaining 43% stake it does not hold in the insurer for about C$1.6 billion ($1.21 billion).

Genworth said the real estate service provider, which owns about 57% stake, will offer about C$43.50 for each share in Genworth, representing a premium of about 22% to the stock’s last closing price. ($1 = 1.3188 Canadian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Arun Koyyur)

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