Dec 9 (Reuters) - Canadian regulators have approved the sale of Genworth Financial Inc’s majority stake in its Canadian unit to asset manager Brookfield Business Partners , the companies said on Monday.
Genworth said in October that regulators were scrutinizing the sale of its 57% stake in Genworth MI Canada Inc for about C$2.4 billion ($1.81 billion).
The deal agreed to in August was aimed at completing the U.S. insurer’s long-delayed sale to China Oceanwide Holdings Group Co Ltd.
The stake sale is expected to be completed on Dec. 12, the companies said on Monday.
$1 = 1.3301 Canadian dollars Reporting by Arundhati Sarkar in Bengaluru; Editing by Sriraj Kalluvila