Assurant’s Acquisition Of AFAS And AFWC

Shearman & Sterling advised American Financial & Automotive Services, Inc. (AFAS) and American Financial Warranty Company (AFWC) in connection with the sale of 100 percent of their outstanding stock to Assurant, Inc.

Assurant, Inc. (NYSE: AIZ), a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, today announced it has acquired American Financial & Automotive Services, Inc. (AFAS).

AFAS, headquartered in The Woodlands, Texas, sells vehicle service contracts to automobile dealerships which cover vehicle repair costs upon expiration of the manufacturer’s warranty as well as other aftermarket financial products. AFWC services those policies.

The Shearman & Sterling team included Bill Nelson (Picture), Ryan Bray, Larry Crouch, Emma Maconick, Djordje Petkoski, Doreen E. Lilienfeld, John W. Menke, Jai Garg, Austin Jones, Benjamin Petersen, Lynn Diamond and Noni Nelson.

Involved fees earner: Ryan Bray – Shearman & Sterling; Larry Crouch – Shearman & Sterling; Jai Garg – Shearman & Sterling; Austin Jones – Shearman & Sterling; Doreen Lilienfeld – Shearman & Sterling; Emma Maconick – Shearman & Sterling; John Menke – Shearman & Sterling; Bill Nelson – Shearman & Sterling; Benjamin Petersen – Shearman & Sterling; Djordje Petkoski – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: American Financial & Automotive Services; American Financial Warranty Company;

Author: Ambrogio Visconti