JACKSONVILLE, Fla.,
June 26, 2017 /PRNewswire/ --
Fidelity National Financial, Inc. today announced that it has
signed a definitive agreement to acquire a majority ownership stake
in Title Guaranty of Hawaii
("Title Guaranty"), with the Pietsch family, the current owners of
Title Guaranty, continuing to own a portion of the company.
Title Guaranty will continue to be closely aligned with Chicago
Title as it formally becomes part of the FNF title company
family.
Founded in 1896, Title Guaranty is the oldest title
insurance company in the state of Hawaii and is a leading provider of title and
escrow services, with more than 300 employees in branches statewide
providing title insurance and real estate closing services.
FNF has a more than 30-year relationship with Title
Guaranty.
"We are excited to formally welcome Title Guaranty of
Hawaii into the FNF family," said
Chairman William P. Foley, II.
"We have a 30+ year relationship with the company and we expect the
same level of professionalism and customer service to continue as
Title Guaranty joins our direct operations."
About Fidelity National Financial, Inc.
Fidelity National Financial, Inc. is organized into two
groups, FNF Group (NYSE: FNF) and FNFV Group (NYSE: FNFV).
FNF is a leading provider of title insurance, technology and
transaction services to the real estate and mortgage
industries. FNF is the nation's largest title insurance
company through its title insurance underwriters - Fidelity
National Title, Chicago Title, Commonwealth Land Title, Alamo Title
and National Title of New York -
that collectively issue more title insurance policies than any
other title company in the United States. FNF also provides
industry-leading mortgage technology solutions and transaction
services, including MSP®, the leading residential mortgage
servicing technology platform in the U.S., through its
majority-owned subsidiaries, Black Knight Financial Services and
ServiceLink Holdings. FNFV holds majority and minority equity
investment stakes in a number of entities, including American Blue
Ribbon Holdings, LLC, Ceridian HCM, Inc. and Del Frisco's Restaurant Group, Inc. More
information about FNF and FNFV can be found at
www.fnf.com.
Forward-Looking Statements
This
press release contains forward-looking statements that involve a
number of risks and uncertainties. Statements that are not
historical facts, including statements regarding our expectations,
hopes, intentions or strategies regarding the future 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 financial and
operating results 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; weakness or 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 distributions from our title insurance underwriters as a main
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.
FNF - G
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SOURCE Fidelity National Financial, Inc.