November 29, 2017 / 9:49 PM / 16 days ago

Oceanwide, Genworth extend deal deadline to April

WASHINGTON, Nov 29 (Reuters) - China’s Oceanwide Holdings Co Ltd and U.S. insurer Genworth Financial Inc have agreed to extend a deadline for their merger agreement to April 1, 2018.

The previous deadline had been Thursday.

Genworth Chief Executive Tom McInerney said in a statement the companies were making “good progress” in hammering out a remedy that would make the proposed merger allowable under rules that prevent the sale of U.S. companies to foreign entities if it would hurt national security.

“We expect to refile our joint voluntary notice with the Committee on Foreign Investment in the United Stated (CFIUS) in the near term,” said McInerney.

Reporting by Diane Bartz; Editing by Richard Chang

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