FNF Units' Plan to Buy LandAm Subs Make Progress

Fidelity National Financial Inc., Jacksonville, Fla., has cleared two hurdles for two of its subsidiaries to acquire two subsidiaries of bankrupt LandAmerica Financial Group Inc., Richmond, Va. The bankruptcy court handling the filing has approved Chicago Title Insurance Co.'s purchase of Commonwealth Land Title Insurance Co. and Fidelity National Title Insurance Co.'s purchase of Lawyers Title Insurance Co. for a total of $282 million; FNT is also acquiring United Capital Title Insurance Co. from LandAmerica, but that part of the deal is not expected to close until next year. Separately, the Nebraska Department of Insurance has approved the transaction, which is expected to close on Dec. 22, if all remaining conditions are met. The Nebraska Department of Insurance has also approved a potential transaction for Stewart Information Services Corp., Houston, to acquire the LandAmerica's subsidiaries; Stewart has also put a bid into the bankruptcy court to acquire Commonwealth and Lawyers.