Concurrently with the closing of the offering, Genworth also will repurchase 15 million shares of Genworth's Class B Common Stock directly from GE for $479 million. The repurchase will close simultaneously with, and be contingent upon, the closing of the secondary offering.
Upon completion of these transactions, GE will not own any shares of Genworth's common stock.
The global coordinator and bookrunner for the offering was Merrill Lynch & Co. Citigroup, Goldman, Sachs & Co., JPMorgan and Morgan Stanley & Co. Incorporated were also bookrunners. Interested parties may obtain a written prospectus relating to this offering from Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.
About Genworth Financial
Genworth is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 24 countries, including the U.S., Canada, Australia, Mexico the U.K. and 16 other European countries. For more information, visit http://www.genworth.com/.
SOURCE: Genworth Financial
CONTACT: Investors: Jean Peters, +1-804-662-2693,
Web site: http://www.genworth.com/