Genworth and China Oceanwide Push Deal Deadline Back

The companies have received approvals for the deal from U.S. insurance regulators, but they still need approvals from U.S. mortgage guarantee agencies and from financial services regulators and other regulators outside the United States.

China Oceanwide has also has had to cope with abrupt changes in China's views on its companies' development projects and overseas investments. The company has been working on efforts to free up cash by selling two large real estate development projects in China.

"The closing of the transaction remains subject to the receipt of regulatory approval in Canada," the companies said in the new deal deadline extension announcement. "In addition, Oceanwide will need to receive clearance in China for currency conversion and the transfer of funds. "

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