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Insurer Genworth Financial has pulled the plug on its long-delayed acquisition by a Chinese company

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Insurer Genworth Financial has pulled the plug on its long-delayed acquisition by a Chinese company

VERBATIM: The provider of mortgage and long-term care insurance based in Richmond, Virginia, says it has exercised its right to terminate the deal with Beijing-based China Oceanwide Holdings Group. The deal was first announced in 2016, with China Oceanwide agreeing to buy Genworth for about $2.7 billion. It was originally expected to close in the following year. But regulatory hurdles and financing issues repeatedly delayed the agreement, which was further complicated this past year by the global coronavirus pandemic…JH reporting.

 

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