Mergers and Acquisitions

Genworth Financial in its $2.4 billion agreement for Brookfield Business Partners to acquire Genworth’s stake in Genworth MI Canada Inc.

Genworth Financial, Inc.
Key Contact
Michael Innes

Partner, Chair: Corporate, Toronto

Team
Alex Gorka

Partner, Corporate, Toronto

Shuli Rodal

Partner, Competition/Antitrust and Foreign Investment
Chair, Diversity Committee, Toronto

Victoria Graham

Partner, Corporate, Toronto

James R. Brown

Partner, Corporate, Toronto

 

On August 13, 2019, Genworth Financial, Inc. and Brookfield Business Partners L.P. announced an agreement for Brookfield Business Partners to purchase Genworth’s majority interest in Genworth MI Canada Inc. for a total price of $2.4 billion.

Genworth Financial, Inc. is a Fortune 500 insurance holding company committed to helping families achieve homeownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Genworth Canada is the largest private sector residential mortgage insurer in Canada.

Osler, Hoskin & Harcourt LLP advised Genworth Financial, Inc. with a team led by Michael Innes and including Alex Gorka, James Brown and Charlie Zilvytis (Corporate), Victoria Graham (Insurance Regulatory), and Shuli Rodal (Competition).
Value
$2.4 billion
Date Closed
December 12, 2019
Lead Office
Toronto
Key Contact
Michael Innes

Partner, Chair: Corporate, Toronto

Team
Alex Gorka

Partner, Corporate, Toronto

Shuli Rodal

Partner, Competition/Antitrust and Foreign Investment
Chair, Diversity Committee, Toronto

Victoria Graham

Partner, Corporate, Toronto

James R. Brown

Partner, Corporate, Toronto