Simpson Thacher Represents Goldman Sachs in $777 Million Assurant Secondary Common Stock Offering
03.22.19
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Simpson Thacher represented Goldman Sachs & Co. LLC, as underwriter, in connection with a registered public offering by certain affiliates of TPG Global, LLC (the “Selling Shareholder”) of 7,869,230 shares of common stock of Assurant, Inc. (“Assurant”), representing all of the remaining shares of Assurant common stock held by affiliates of the Selling Shareholder. The shares sold were part of the 10,069,230 shares issued by Assurant to the Selling Shareholder in connection with Assurant’s acquisition of The Warranty Group in May 2018. The Selling Stockholder received approximately $777 million in proceeds before expenses from the offering.
Assurant is a global provider of risk management solutions, protecting where consumers live and the goods they buy. Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection and related services; extended service contracts; vehicle protection products; pre-funded funeral insurance; renters insurance; and lender-placed homeowners insurance. Assurant has a market presence in 21 countries.
The Simpson Thacher team for this transaction included Joseph Kaufman, Matthew Levy and Erica Egenes (Capital Markets); Jeanne Annarumma and Nathan Utterback (Executive Compensation and Employee Benefits); Jonathan Cantor and Morgan Otway (Tax); Andrew Pagliughi (Blue Sky and FINRA); and Steve DeLott (Insurance).