Genworth and Oceanwide Extend Merger Agreement
2020 JAN 03 (NewsRx) -- By a
The 13th Waiver also provides termination rights for Oceanwide to the extent that regulators subsequently impose materially adverse conditions on the transaction. In addition, the waiver provides that the parties will mutually agree upon a closing date after the receipt of all required regulatory approvals. In the event
Although the Genworth-Oceanwide transaction had previously received all necessary approvals from
“The extension allows significant additional time for regulators to complete their review of updated information including the recent sale of our Canadian mortgage insurance business, and for the NYDFS to review the results of our
Added LU Zhiqiang, chairman of Oceanwide: “Despite the delays, we remain fully committed to this transaction and look forward to the successful completion of the transaction.”
Following the receipt of all final
(Our reports deliver fact-based news of research and discoveries from around the world.)
Transparency in Coverage
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News