The US Committee on Foreign Investment has approved the acquisition of American insurance company Genworth by China Oceanwide Holdings Group Co., reports thepaper.cn.

 

美国外资委员会已批准中国泛海控股集团对美国Genworth保险公司的收购。

 

The deal is worth $2.7 billion.

 

The approval is the largest publicly reported Chinese deal confirmed by US authorities so far in the Trump¹ administration.

 

The review is also one of the longest on record, with the announcement of the acquisition confirmed in October 2016.

 

Genworth is now set to become a subsidiary of China Oceanwide Holdings Group Co.

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