Fidelity National Financial sells 32% equity ownership stake in Sedgwick CMS

Jun 01, 2010 (Datamonitor via COMTEX) -- Fidelity National Financial, a provider of title insurance, mortgage services, specialty insurance and information services, has closed the sale of its 32% equity ownership stake in Sedgwick Claims Management Services to affiliates of Stone Point Capital and Hellman & Friedman.

The total cash purchase price for Sedgwick, including repayment of debt, was approximately $1.1 billion. Total FNF proceeds were approximately $224 million, including an indemnity escrow of approximately $32 million. The sale generated a pre-tax gain of approximately $95 million.

William Foley, chairman of Fidelity National Financial, said: "The sale of Sedgwick clearly achieves our on-going goal of creating significant value for our shareholders. We are very proud of the growth that Sedgwick experienced under our ownership and we wish them future success with their new owners."

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