China Oceanwide Holdings Group Co., Ltd., a Beijing-based financial holding company founded by Chinese billionaire Lu Zhiqiang (pictured), has agreed to acquire struggling U.S. mortgage and long-term care insurance firm Genworth Financial, Inc. for about US$2.7 billion, the companies announced. China Oceanwide will pay US$5.43 per share in cash for New York Stock Exchange-listed Genworth, […]

Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.