<article>U.S. insurer <a href="https://www.dealstreetasia.com/?s=Assurant Inc" target="_blank" rel="noopener">Assurant Inc</a> said on Wednesday it would buy <a href="https://www.dealstreetasia.com/?s=Warranty Group" target="_blank" rel="noopener">Warranty Group</a> for $1.9 billion, as it looks to offer vehicle protection services and expand in the Asia-Pacific region.</article>

U.S. insurer <a href="https://www.dealstreetasia.com/?s=Assurant Inc" target="_blank" rel="noopener">Assurant Inc</a> said on Wednesday it would buy <a href="https://www.dealstreetasia.com/?s=Warranty Group" target="_blank" rel="noopener">Warranty Group</a> for $1.9 billion, as it looks to offer vehicle protection services and expand in the Asia-Pacific region.
Assurant will fund the deal with debt and preferred shares, the company said in a statement.
The deal has a value of $2.5 billion, when including Warranty Group&#8217;s debt.
Warranty Group, a unit of private equity firm TPG, provides extended warranty contracts for an array of consumer goods.
Assurant shareholders will own about 77 percent of the combined company, while TPG will hold the rest.
Assurant said it expects the deal to add modestly to 2018 operating earnings per share on a run-rate basis.
<a href="https://www.dealstreetasia.com/?s=Morgan Stanley" target="_blank" rel="noopener">Morgan Stanley </a>served as financial adviser to Assurant, while <a href="https://www.dealstreetasia.com/?s=Willkie Farr &amp; Gallagher" target="_blank" rel="noopener">Willkie Farr &amp; Gallagher </a>provided legal counsel.
UBS was Warranty Group&#8217;s financial adviser. Skadden, Arps, Slate, Meagher &amp; Flom was its legal adviser.
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<h4>Reuters</h4>

U.S. insurer Assurant Inc to buy Warranty Group for $1.9 billion, as it looks to offer vehicle protection services and expand in the Asia-Pacific region.

U.S. insurer Assurant to buy TPG-owned Warranty Group for $1.9b

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U.S. insurer Assurant to buy TPG-owned Warranty Group for $1.9b

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