— Read  Genworth Aims to Line Up Backup Financing Options, on ThinkAdvisor. Exclusive discounts on ALM and ThinkAdvisor events. With NDRC's re-approval, Oceanwide will now move forward with the few remaining regulatory steps required to close the … Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co. Ltd (Oceanwide) today announced they have agreed to a 13th waiver and agreement of each party's right to terminate the previously announced merger agreement. The companies said today that China’s National Development and Reform Commission has now extended acceptance of China Oceanwide’s Genworth acquisition filing. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Genworth's consolidated financial condition, results of operations, credit rating or liquidity. From time to time, Genworth releases important information via postings on its corporate website. Businesses controlled by Oceanwide have more than 10,000 employees globally. This information can be found at http://www.genworth.com.au. Given the most recent update, we do not believe a closing can occur in the near term. Preserve wealth with help from advanced tax planning and risk management strategies. The best way to deliver quality service is by understanding what clients want from your interactions. Cautionary Note Regarding Forward-Looking Statements. Confirmation from the Delaware Department of Insurance that its earlier approval of the China Oceanwide-Genworth still applies. The contingency plan also addresses the need to further align the Company's expense structure with its business activities. Given uncertainty around the completion and timing of the remaining steps required to close the transaction, Genworth and Oceanwide have not extended the current December 31, 2020 "end date" under the merger agreement. James Riepe, non-executive chairman of the Genworth Board, said: "When we considered our most recent extensions of the merger agreement, Genworth's Board of Directors believed we were on a path to a near-term closing based on the information we were provided. As the needs of your clients and prospects change, make sure your technology can keep up. Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd. today announced they have extended their merger negotiations agreement to Dec. 31. Genworth Financial is a Fortune 500 insurance holding company that offers mortgage insurance and long term care insurance. Financial Inc., one of the world’s longest deal engagements, is really fizzling out. Headquartered in Beijing, China, Oceanwide's well-established and diversified businesses include operations in financial services, energy, technology information services, culture and media, and real estate assets globally, including in the United States. Genworth Financial, Inc. (NYSE: GNW) (Genworth, the Company) and China Oceanwide Holdings Group Co., Ltd. (Oceanwide) today provided an update on … Our financial products are offered/underwritten by one or more of the following: Genworth And Oceanwide Provide Transaction Update; Genworth To Focus on Contingency Plan, For further information: Investors: investorinfo@genworth.com, Media: Julie Westermann, 804 937.9273, julie.westermann@genworth.com. Get the latest best practices, relevant stats and industry trends - quickly and easily. The San Francisco Business Times reported in October that Hony Capital has been working to buy Oceanwide Center, a big commercial real estate project in San Francisco, from a China Oceanwide affiliate for $1.2 billion. Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co. Ltd (Oceanwide) announced that their transaction has received confirmation of the extension of the acceptance of filing from the National Development and Reform Commission (NDRC) in China. Genworth and China Oceanwide did not mention Hony Capital or other financial services companies in the announcement they put out today. China Oceanwide, whose global holdings include real estate investments in New York, California and Hawaii, agreed to buy Genworth for $5.43 a … The 13th waiver and agreement extends the previous deadline of December 31, 2019 to no later than March 31, 2020. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Approximately $340 million of this cash balance is ring-fenced to pay for Genworth's February 2021 senior notes at maturity. Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co. Ltd (Oceanwide) today provided an update on the status of their pending transaction. Further, forward-looking statements should not be relied upon as representing Genworth's views as of any subsequent date, and Genworth does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Genworth. Life Insurance Claim Form Instructional Video. 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