Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd. say the COVID-19 outbreak may force the companies to postpone their deal closing date past March 31.
China Oceanwide has been trying to acquire Genworth since October 2016.
Genworth still needs final approval updates from insurance regulators in New York state, Virginia and Delaware.
China Oceanwide needs to get permission from regulators in China to convert currency and transfer funds to Genworth, Genworth says.
“Genworth and Oceanwide remain committed to the transaction and continue to work towards closing as soon as possible,” the companies announced Monday.