Brookfield Enterprise Companions LP has signed a deal to purchase the remaining curiosity in Genworth MI Canada Inc. that it doesn’t already personal in a proposal that values the corporate at about $3.eight billion.
Brookfield owns a 57 per cent stake within the residential mortgage insurance coverage firm.
Below the phrases of the settlement, Brookfield pays $43.50 per share for the shares it doesn’t maintain
Genworth shares closed at $35.58 on the Toronto Inventory Alternate on Friday.
The deal requires approval by a two-thirds majority vote by shareholders, in addition to the approval by a easy majority of votes forged by minority shareholders, which excludes Brookfield.
Genworth MI Canada rebranded earlier this month and has been working beneath the Sagen MI Canada banner.