Brief: Genworth Mortgage Insurance Australia says GFI acquisition by China Oceanwide

China Oceanwide Holdings

23/10/2016 23:12

Oct 24 (Reuters) - Genworth Mortgage Insurance Australia Ltd 
 GMA.AX  
    * GFI announces acquisition by China Oceanwide 
    * Deal for approximately US$2.7 billion 
    * Upon completion of transaction, Genworth Financial, Inc. 
Will be a standalone subsidiary of china oceanwide 
    * Genworth Financial, Inc. Intends to maintain  existing 
portfolio of businesses, including genworth australia 
    * Transaction, which has been approved by both companies' 
boards of directors, is expected to close by middle of 2017 
 
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