China DealBook
A Newsletter on Deal Making in China

By: ChinaDesk | October 24, 2016

A Newsletter on Deal Making in China

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Deal News
 
China Oceanwide to buy U.S. insurer Genworth for $2.7 billion in cash
China Oceanwide Holdings Group Co has agreed to buy U.S. insurer Genworth Financial Inc (GNW.N) for $2.7 billion in cash, the latest in a series of moves by Chinese firms to buy overseas assets as their domestic economy slows and the yuan weakens.

Genworth has withered as an independent company and it is not clear that the Chinese buyer has what it takes to turnaround the ailing business, but the deal certainly puts it on the international map. For more see Breakingviews Coloumnist Una Galani analysis of the deal --> China Oceanwide buys GE sloppy insurance seconds

Europe's new China M&A discount
Call it Europe'...