BRIEF-Genworth Mortgage Insurance Australia says GFI acquisition by China Oceanwide
Oct 24 (Reuters) - Genworth Mortgage Insurance Australia Ltd * GFI announces acquisition by China Oceanwide * Deal for approximately US$2.7 billion * Upon completion of transaction, Genworth Financial, Inc. Will be a standalone subsidiary of china oceanwide * Genworth Financial, Inc. Intends to maintain existing portfolio of businesses, including genworth australia * Transaction, which has been approved by both companies' boards of directors, is expected to close by middle of 2017 Source text for Eikon: Further company coverage: