trending Market Intelligence /marketintelligence/en/news-insights/trending/5rmpWcBb9jwOkchisd3HOA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Genworth, China Oceanwide extend merger deadline

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report


Genworth, China Oceanwide extend merger deadline

Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd. agreed to once again extend the deadline for their merger to close.

The latest agreement moves the deadline to no later than March 31, 2020, from Dec. 31, 2019.

The agreement also provides termination rights for China Oceanwide to the extent that regulators subsequently impose materially adverse conditions on the transaction. The parties will mutually agree upon a closing date after receiving all required regulatory approvals. If both companies are unable to agree on a closing date, each party has the right to terminate the merger agreement.

The companies are in discussions with the New York Department of Financial Services, whose previous approval of the deal expired earlier in the year, to secure appropriate reapproval. Meanwhile, certain regulators are reviewing supplementary information reflecting the Genworth Canada disposition to determine whether it has any impact on their existing approvals.

The transaction that has been delayed several times will require approvals from Fannie Mae and Freddie Mac, while China Oceanwide will also need to receive clearance from China's State Administration of Foreign Exchange, for the currency conversion and transfer of funds.