Genworth Australia’s U.S. Majority Owner to Be Acquired by China Oceanwide; AUD 3.50 FVE Unchanged
Genworth Mortgage Insurance Australia released a joint announcement from its U.S. based majority owner Genworth Financial and privately held China Oceanwide Holdings Group that the two have entered into a definitive agreement for China Oceanwide to acquire all of the outstanding shares in Genworth Financial for a total purchase price of USD 2.7 billion, or USD 5.43 per share in cash. The deal is subject to Genworth Financial's shareholder approval and regulatory approvals.We understand Genworth...
Genworth Australia is a provider of lenders mortgage insurance (LMI) under authorisation from Australian Prudential Regulation Authority. Co. provides three LMI products: Standard LMI, Homebuyer Plus and Business Select/Low Doc. Co. maintains commercial relationships with over 105 lender customers across Australia.
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