Genworth Financial, Inc.

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

Client

Genworth Financial, Inc.

Value

$2.4 billion

Service

Mergers and Acquisitions

Date Closed

Lead Office

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).