Manulife To Invest In BlackBerry Debt Sale; Brookfield, Markel Reduce Stake

(RTTNews) - Manulife Financial (MFC.TO, MFC) agreed to invest $70 million in Blackberry's (BBRY, BB.TO) $1 billion bond deal, while other investors such asFairfax Financial, Brookfield Asset Management and Markel Corp. etc. reduced their role in the $1 billion debt sale, according to a filing by Blackberry.

Meanwhile Brookfield Asset Management (BAM) lowered its stake to $10 million from $50 million and Markel Corp. (MKL) reduced its $100 million investment to $70 million. The largest investor in Blackberry, Fairfax decided not to proceed with the tentative bid to buy.

The smartphone maker said in a filing that it is relying upon representations and acknowledgements in connection with the issue and sale of the 6% unsecured subordinated convertible debentures to it.