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Article: Fidelity National Financial, Inc. Announces Sale of Fidelity National Capital, Inc.
- Article from:
- Insurance Weekly News
- Article date:
- October 16, 2009
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Fidelity National Financial, Inc. (NYSE:FNF), a leading provider of title insurance, specialty insurance, claims management services and information services, announced the sale of Fidelity National Capital, Inc. ("FN Capital") to Winthrop Resources Corporation ("WRC"), a subsidiary of TCF Financial Corporation (NYSE:TCB). FN Capital is a provider of technology financing and leasing solutions. Total net proceeds to FNF from the sale of FN Capital stock, after the repayment of certain FN Capital debt, were approximately $50 million.
The sale of FN Capital will result in a reduction of approximately $214 million of primarily non-recourse consolidated debt on the FNF ...