Fidelity National Financial to invest in F&G

F&G announced its intent to enter into an agreement under which Fidelity National Financial, Inc. (FNF) will make an investment of approximately $250 million in F&G. Fidelity National Financial held approximately 85% ownership in F&G as of September 30, 2023.

The net proceeds from the investment will be used to support the growth of assets under management, as F&G capitalizes on its current momentum and attractive opportunities in the market.

F&G’s Board of Directors has formed a Special Committee comprised of independent members of the Board (the Special Committee) to begin evaluation and negotiation of terms for the investment.  F&G’s Special Committee will retain an independent financial advisor, as well as legal counsel.  The Special Committee, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will thoroughly evaluate the terms and conditions of the investment on an arm’s length basis.

The transaction is expected to close in late 2023 or early 2024, subject to customary closing conditions.