Fidelity National Financial, Inc. Announces Closing of the Sale of Sedgwick CMS

JACKSONVILLE, Fla., May 28 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF), a leading provider of title insurance, mortgage services, specialty insurance and information services, today announced the closing of the sale of its 32% equity ownership stake in Sedgwick Claims Management Services, Inc. ("Sedgwick") to affiliates of Stone Point Capital LLC and Hellman & Friedman LLC.    

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.    

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

Fidelity National Financial, Inc. (NYSE: FNF), is a leading provider of title insurance, mortgage services, specialty insurance and information services.  FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Lawyers Title, Ticor Title, Security Union Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States.  FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business and is a leading information services company in the human resource, retail and transportation markets through a minority-owned subsidiary, Ceridian Corporation.  More information about FNF can be found at www.fnf.com.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.  The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on operating subsidiaries as a source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.

SOURCE Fidelity National Financial, Inc.