China Oceanwide Holdings Group Co., Ltd. () known also as China Oceanwide is a Chinese privately owned investment company. It is the parent company of publicly traded company Oceanwide Holdings as well as the largest shareholder of another public company Minsheng Holding. Founder Lu Zhiqiang, via Tohigh Holding Co., Ltd. (), owned 100% stake of Oceanwide Group Co., Ltd. (), in turn Oceanwide Group owned 98% stake of China Oceanwide Holdings Group. The 2% stake was owned by Tohigh Holding. In turn, China Oceanwide Holdings Group owned Oceanwide Holdings and Oceanwide Holdings owned Hong Kong publicly traded company China Oceanwide Holdings Limited.

History

China Oceanwide Holdings Group was the parent company of publicly traded companies Oceanwide Holdings () and China Oceanwide Holdings Limited (, themselves were parent and subsidiary). China Oceanwide Holdings Group had injected many assets to Oceanwide Holdings since 2005, but still half of the total assets were not listed (as of 2015 data). Moreover, the hotel assets of Oceanwide Group/Tohigh Holding (the parent companies), were owned by China Oceanwide Holdings Group's sister company. In 2013 China Oceanwide Holdings Group acquired the controlling stake of China Minsheng Trust, and sold to Oceanwide Holdings in 2016. In 2015, China Oceanwide International Investment, an unlisted subsidiary of China Oceanwide Holdings Group, sold an Indonesian power plant project to China Oceanwide Holdings Limited. However, China Oceanwide International Investment retained 100% stake of PT. China Oceanwide Indonesia. In October 2016 it was announced that the company was acquiring US long-term care insurance company

Genworth Financial Genworth Financial is an S&P 400 insurance company. The firm was founded as The Life Insurance Company of Virginia in 1871. In 1986, Life of Virginia was acquired by Combined Insurance, which became Aon plc in 1987. In 1996, Life of Virginia w ...

(via Asia Pacific Global Capital) for $2.7 billion. However as of April 2018 the acquisition of Genworth had not yet gone through pending approval by

CFIUS The Committee on Foreign Investment in the United States (CFIUS, commonly pronounced "Cifius" ) is an inter-agency committee of the United States government that reviews the national security implications of foreign investments in U.S. companies ...

in the United States. The deal was further delayed in July 2019 as Genworth tried to find a buyer for its Canadian subsidiary Genworth MI Canada Inc. On April 6, 2021, the proposed merger was terminated by Genworth Financial due to Oceanwide Holdings' inability to close on the acquisition within a reasonable time frame. In March 2017, the group acquired International Data Group, publisher of ''

PC World ''PC World'' (stylized as PCWorld) is a global computer magazine published monthly by IDG. Since 2013, it has been an online only publication. It offers advice on various aspects of PCs and related items, the Internet, and other personal tech ...

'' and ''

Computerworld ''Computerworld'' (abbreviated as CW) is an ongoing decades old professional publication which in 2014 "went digital." Its audience is information technology (IT) and business technology professionals, and is available via a publication website ...

'', along with its research subsidiary, IDC. In February 2019, The London-Based accounting giant PriceWaterhouseCoopers has resigned as auditor following profit warning.

Subsidiaries

* China Oceanwide International Investment (100%) ** PT. China Oceanwide Indonesia (100%) * Oceanwide Energy Holdings (, 100%) * Oceanwide Energy Investment Baotou (, 100%) * Oceanwide Industries (, 100%) * Asia Pacific Global Capital * Oceanwide Holdings ( 69.01%) **subsidiaries of Oceanwide Holdings ( 69.01%)- Oceanwide Holdings International Financial Development Co., Ltd 100% *Oceanwide Holdings International Financial Development Co. **subsidiaries of Oceanwide Holdings International Financial Development Co.- China Tonghai Financial 中國通海金融 100%

Equity investments

* China Minsheng Bank (5% via non-wholly-owned subsidiaries) * CuDeco (21.01% via non-wholly-owned subsidiaries) * Legend Holdings (16.97%) * Minsheng Holding (22.56%)

References

External links

* {{official website Holding companies of China Privately held companies of China