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GE May Sell Remaining Stake In Genworth

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Genworth Financial Inc. has filed a shelf registration statement with the U.S. Securities and Commission that moves it closer to full independence from its parent, General Electric Company.[@@]

Genworth, Richmond, Va., says it filed the form to help General Electric, Fairfield, Conn., carry out plans to reduce its stake in Genworth over the next 2 years.

General Electric now owns 52% of Genworth’s common stock.

The shelf registration filing will let General Electric sell any or all of the 243.2 million shares of Genworth common stock held by a General Electric affiliate. However, the filing of the shelf registration statement does not obligate General Electric to sell any shares, Genworth says.