JACKSONVILLE, Fla., Oct. 2, 2017 /PRNewswire/ -- Fidelity National Financial, Inc. today announced the closing of the previously announced distribution ("the Distribution") of all of the outstanding shares of common stock of New BKH Corp. ("New BKH") to FNF Group (NYSE: FNF) shareholders. Immediately following the Distribution, New BKH and Black Knight Financial Services, Inc. ("Black Knight") engaged in a series of transactions ending with a new publicly-traded holding company, Black Knight, Inc. ("New Black Knight"). FNF Group shareholders ultimately received a total of approximately 83.3 million shares of New Black Knight common stock, or approximately 0.3066322 shares of New Black Knight common stock for each share of FNF Group common stock that they owned. Commencing today, New Black Knight's shares will be traded on the New York Stock Exchange ("NYSE") under the trading symbol "BKI".
The Distribution and the subsequent receipt of shares of New Black Knight common stock is expected to generally be tax-free to FNF Group shareholders for U.S. federal income tax purposes, except to the extent of any cash received in lieu of receiving New Black Knight fractional shares.
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 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. 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.
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; transaction costs; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of our Form 10-K and other filings with the Securities and Exchange Commission (the "SEC").
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SOURCE Fidelity National Financial, Inc.