China Oceanwide Renews Genworth Deal Financing Arrangement
April 8, 2020 by Allison Bell
Genworth Financial Inc. says its would-be buyer, China Oceanwide Holdings Group Co. Ltd., has confirmed having one part of the deal financing in place and is now working on finalizing the rest of the financing.
China Oceanwide agreed to pay a total of $2.7 billion for Genworth in October 2016.
China Oceanwide is a Beijing-based real estate developer and financial services company.
Genworth is a Richmond, Virginia-based mortgage insurer that has been a major player in the life insurance, annuity and long-term care insurance markets.
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