Genworth Financial Announces Results of Special Stockholders’ Meeting


RICHMOND, Va., March 7, 2017 /PRNewswire/ — Genworth Financial, Inc. (NYSE: GNW) today announced that at its special meeting of stockholders held earlier today, stockholders adopted the previously announced merger agreement with China Oceanwide Holdings Group Co., Ltd. (“Oceanwide”), whereby Oceanwide will acquire Genworth through Asia Pacific Global Capital Co. Ltd., one of Oceanwide’s investment platforms. Approximately 96 percent of votes cast were voted in favor of the merger, which represents 71 percent of Genworth’s total outstanding shares of common stock as of the record date for the special meeting. As previously announced, Genworth and Oceanwide continue to expect the transaction to be completed by the middle of 2017, subject to closing conditions including receipt of required regulatory approvals.

“Genworth’s Board of Directors would like to thank its stockholders for their adoption of the merger agreement with Oceanwide, and for their support throughout Genworth’s extensive review of strategic alternatives,” said James S. Riepe, Genworth non-executive chairman of the board. “We continue to believe that this transaction is in the best interest of all Genworth stockholders and provides stockholders with the best value reasonably available for their interest in Genworth.”

President and CEO Tom McInerney added, “The receipt of stockholder approval at today’s special meeting is a critical step in the process towards completing the merger with Oceanwide. Both Genworth and Oceanwide have been working together on executing important next steps. We are especially focused on our work with applicable regulators in the U.S., China, and other international markets, whose approvals are needed to close this transaction by the middle of 2017.”

Genworth Financial Announces Results of Special Stockholders’ Meeting