Munger, Tolles & Olson represented Berkshire Hathaway and its subsidiary Columbia Insurance in an agreement with Home Capital Group Inc., a public company traded on the Toronto Stock Exchange (HCG), for an equity investment of up to C$400 million and a new C$2 billion credit facility. The agreement was announced on June 21, 2017, and the closing of the initial equity investment and the credit facility occurred on June 29, 2017.
“Home Capital’s strong assets, its ability to originate and underwrite well-performing mortgages, and its leading position in a growing market sector make this a very attractive investment,” said Berkshire Chairman and Chief Executive Officer Warren E. Buffett in Home Capital’s press release.
Munger Tolles attorney Mary Ann Todd led Berkshire’s representation on the equity investment, working with Najee K. Thornton. Judith T. Kitano and Kimberly A. Chi co-led Berkshire’s representation on the credit agreement transaction, working with Jennifer M. Broder. Stephen D. Rose, Samuel T. Greenberg and Peter E. Boos advised on the tax aspects of the transactions.