(MENAFN) US Genworth Financial Inc. to be sold for China Oceanwide Holdings Group Co. for USD2.7b in cash.
Genworth and privately held and family-owned China Oceanwide Holdings said the Chinese firm will pay USD5.43 per share to acquire all the Richmond, Virginia-based firms' outstanding shares.
However, 2016 has seen mainland firms launch a record USD181b of overseas mergers and acquisitions, about 70% more than the whole of the last year.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.