RICHMOND, Va., March 2 /PRNewswire-FirstCall/ -- Genworth Financial
(NYSE: GNW) today announced the pricing of General Electric's (GE) secondary
public offering of Genworth Class A Common Stock. Approximately 71 million
shares of Class A Common Stock will be sold in the offering at a price to the
public of $32.75 per share. Genworth will not receive any proceeds from this
transaction.
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,
jean.peters@genworth.com, or
Alicia Charity, +1-804-662-2248,
alicia.charity@genworth.com, or
Media: Phil Moeller, +1-804-662-2534,
philip.moeller@genworth.com,
all of Genworth Financial
