“Genworth Finds Buyer for Canadian Mortgage Insurance Unit,” by Allison Bell, ThinkAdvisor
“A big asset manager has agreed to pay about $1.8 billion for Genworth Financial Inc.’s 56.9% stake in the Genworth MI Canada Inc. mortgage insurance business, Genworth announced today. The would-be buyer, Brookfield Business Partners L.P., hopes to close on the deal by Dec. 31, Genworth said. … Selling Genworth MI Canada could help Genworth move ahead with the China Oceanwide deal, Genworth said.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Slow but steady progress.