 | Assurant to Acquire The Warranty Group for US$2.5 Billion |
2017
| Areas | Competition, Antitrust and Foreign Investment, Corporate and Commercial, Mergers and Acquisitions |
Summary
Goodmans acts as Canadian counsel to Assurant, Inc. (NYSE: AIZ), a premier global provider of risk management solutions, in its agreement to combine with The Warranty Group, a portfolio company of TPG Capital for US$2.5 billion. The transaction is valued at approximately US$1.9 billion in equity value or US$2.5 billion of enterprise value. The transaction is expected to close in the second quarter of 2018, subject to regulatory and other customary closing conditions.
The Warranty Group is one of the world’s premier global providers of warranty solutions and related benefits, with operations in more than 35 countries and over 1,600 employees.
TPG is a leading global alternative asset firm founded in 1992 with more than $73 billion of assets under management.
