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BRIEF-Brookfield Business Partners To Acquire Remaining Shares Of Genworth MI Canada Inc

Published 2020-10-26, 07:55 a/m
© Reuters.

Oct 26 (Reuters) - Brookfield Business Partners LP BBU_u.TO :

* BROOKFIELD BUSINESS PARTNERS TO ACQUIRE REMAINING SHARES OF GENWORTH MI CANADA INC.

* BROOKFIELD BUSINESS PARTNERS LP - TO PURCHASE ALL OF REMAINING OUTSTANDING COMMON SHARES OF GENWORTH MI CANADA AT C$43.50/SHARE

* BROOKFIELD BUSINESS PARTNERS LP - GENWORTH'S BOARD OF DIRECTORS, OTHER THAN SOME CONFLICTED DIRECTORS, UNANIMOUSLY APPROVED ARRANGEMENT AGREEMENT

* BROOKFIELD BUSINESS PARTNERS LP - UPON DEAL CLOSE, CONSIDERATION PAYABLE BY BROOKFIELD TO HOLDERS OF COMMON SHARES TO BE ABOUT US$1.2 BILLION

* BROOKFIELD BUSINESS PARTNERS LP - INTENDS TO FUND ABOUT US$460 MILLION & FOR INSTITUTIONAL PARTNERS TO FUND BALANCE OF PURCHASE PRICE

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