FNF to Revamp Title Insurance Ops

Fidelity National Financial Inc., Jacksonville, Fla., has announced a restructuring plan to distribute 17.5% of its title insurance operations to existing stockholders.Under the plan, FNF would form a title insurance holding company that would act as the parent company for FNF's title insurance operations. FNF said it would then make a taxable distribution of 17.5% of the shares of the holding company's common stock to FNF stockholders, while retaining ownership of the remaining common stock. "We believe that it has been difficult to appreciate the full value of our distinct business lines in a single publicly traded security," said William P. Foley II, FNF's chairman and chief executive officer. "Separating the businesses that comprise FNF into distinct companies will provide improved transparency for the investment community and a potentially simpler means of valuing the assets of FNF." The company can be found online at http://www.fnf.com.