Delaware Department of Insurance Schedules Public Hearing on China Oceanwide and Genworth Financial Merger on November 28, 2018
Genworth Financial Inc (GNW)
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Source: PR Newswire
RICHMOND, Va., Oct. 26, 2018 /PRNewswire/ -- The Delaware Department of Insurance (DDI) announced it has scheduled a public hearing at 9 a.m. on Wednesday, November 28, 2018 on the proposed acquisition of control of Delaware-domiciled Genworth Life Insurance Company (GLIC) by entities affiliated with China Oceanwide Holdings Group Co., Ltd. (Oceanwide) in connection with the merger of Oceanwide and Genworth Financial, Inc. (NYSE: GNW). Genworth and Oceanwide have agreed that Genworth Holdings, Inc. will contribute $175 million to GLIC. This $175 million previously had been committed by Genworth to be used as partial consideration for unstacking Genworth Life and Annuity Insurance Company (GLAIC) from GLIC, which the parties decided not to pursue. The $175 million will be contributed in three equal tranches, with the first contribution completed before the end of March 2019, the second contribution completed before the end of September 2019 and the final contribution completed by the
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GNW
Sec Filings
- 4/26/24 - Form 13F-HR
- 4/17/24 - Form PX14A6G
- 4/11/24 - Form S-3ASR
- GNW's page on the SEC website