Brookfield Business Partners LP BBU_u.TO :
* BROOKFIELD BUSINESS PARTNERS TO ACQUIRE CONTROL OF GENWORTH CANADA
* BROOKFIELD BUSINESS PARTNERS LP - DEAL FOR FOR APPROXIMATELY C$2.4 BILLION
* BROOKFIELD BUSINESS PARTNERS LP - DEAL FOR C$2.4 BILLION
* BROOKFIELD BUSINESS PARTNERS LP - DEAL FOR C$48.86 PER SHARE
* BROOKFIELD BUSINESS PARTNERS LP - TRANSACTION, INCLUDING BRIDGE LOAN, WILL BE FUNDED FROM EXISTING LIQUIDITY
* BROOKFIELD BUSINESS PARTNERS - INTENDS TO FUND ABOUT $700 MILLION OF PURCHASE ON CLOSING & FOR CERTAIN OF INSTITUTIONAL PARTNERS TO CO-INVEST FOR BALANCE.
* BROOKFIELD BUSINESS PARTNERS - TO BUY 48.9 MILLION SHARES OF GENWORTH MI, OR ABOUT 57% CONTROLLING INTEREST IN BUSINESS, FROM GENWORTH FINANCIAL
* BROOKFIELD BUSINESS PARTNERS LP - CO HAS ALSO AGREED, BETWEEN NOW & CLOSING OF TRANSACTION, TO PROVIDE GENWORTH WITH A BRIDGE LOAN OF UP TO $850 MILLION
* BROOKFIELD BUSINESS - GENWORTH AGREED TO CAUSE NOMINEES OF GENWORTH, OTHER THAN CEO OF GENWORTH CANADA, ON BOARD OF GENWORTH CANADA, UNITS TO RESIGN
* BROOKFIELD BUSINESS - SUBJECT TO TERMS OF PURCHASE AGREEMENT, VACANCIES CREATED BY RESIGNATIONS SHALL BE FILLED WITH NOMINEES OF BROOKFIELD BUSINESS
* BROOKFIELD BUSINESS - GIVEN SHORT TIME AVAILABLE TO COMPLETE DEAL, BROOKFIELD HAS NO CURRENT INTENTION TO MAKE OFFER FOR REST OF OUTSTANDING SHARES