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Genworth to get new Chinese owners

AAP logoAAP 23/10/2016

Mortgage insurer Genworth will get new owners after Chinese conglomerate China Oceanwide Holdings agreed to acquire its New York-listed parent company Genworth Financial Inc. for $US2.7 billion ($A3.6 billion).

Genworth Australia said the parent company plans to maintain its existing portfolio of businesses as part of the deal.

Genworth Financial Inc owns about 52 per cent in the ASX-listed Australian business.

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