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China Oceanwide said it was not able to meet with Hony Capital to finalize the terms and conditions because of the pandemic.October 1
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Neither side opted to invoke their Aug. 31 termination rights and the deal is set to close by the end of September.September 1
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Most of the proceeds will be used to deal with debt maturities, with the rest held by the MI unit's parent.August 21
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“They are willing to play this to the end, one way or the other.”August 13
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While low interest rates drove up new insurance written, the increased defaults stymied overall performance.July 30
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The domestic mortgage insurer could have a portion of its equity sold as an initial public offering if the China Oceanwide transaction were to be terminated.July 21
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If the transaction does not go through, Genworth is looking at reviving a spin-out of its U.S. mortgage insurance business.June 30
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But the coronavirus put a hold on the market in April and remains an overhanging cloud for the future.June 25
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But it is still looking to conserve capital to cover future delinquencies and will likely halt dividends to the parent company.May 6
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The latest deadline for Genworth Financial's acquisition by China Oceanwide is June 30, but the parties are looking to get the transaction completed by the end of next month.April 1
