Brookfield completed the acquisition of the remaining stake in Genworth MI Canada for $1.29bn.

Brookfield, a business service and industrial company, completed the acquisition of the remaining stake in Genworth MI Canada, a provider of mortgage default insurance to Canadian residential mortgage lenders, for $1.29bn. "We have conducted, with the assistance of our independent financial and legal advisors, a thorough evaluation of Brookfield's proposal and alternatives available to the Company to maximize shareholder value, while taking into consideration the interests of all of our stakeholders. We are pleased, after extensive negotiations, to have reached an agreement that provides shareholders of the Company other than Brookfield with a compelling purchase price and certain cash value," Sidney Horn, Genworth Chair of the Special Committee.