Genworth, China Oceanwide Issue Update On Pending Transaction - Quick Facts

(RTTNews) - Genworth Financial, Inc. (GNW) said Oceanwide has provided satisfactory documentation to the company indicating that Hony Capital expects to be able to finalize the $1.8 billion financing in November, and that Oceanwide is continuing to work diligently with the goal of closing the deal by November 30, 2020. The transaction has now received all U.S. regulatory approvals.

Tom McInerney, CEO of Genworth, said: "Based on our discussions with Oceanwide and additional documentation regarding the funding processes provided to Genworth, we are hopeful that Oceanwide's transaction funding will be completed in time to close the transaction by November 30, 2020 without the need for an additional extension."