Fidelity National Financial, Announces Investment of $250M In Majority-Owned Subsidiary F&G
Portfolio Pulse from Benzinga Newsdesk
Fidelity National Financial, Inc. (FNF) has completed a $250 million investment in preferred stock of its subsidiary F&G Annuities & Life, Inc. The investment is for 5,000,000 shares of F&G's 6.875% Series A Mandatory Convertible Preferred Stock, which will support F&G's growth. The preferred stock will convert into common stock on January 15, 2027, with a conversion rate based on the value of F&G's common stock at that time.
January 16, 2024 | 11:27 am
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FNF has invested $250 million in its subsidiary F&G through preferred stock, aiming to support F&G's asset management growth. This strategic move could signal confidence in F&G's future performance.
The investment by FNF in F&G is a significant financial move that indicates FNF's commitment to and confidence in its subsidiary's growth. This could be perceived positively by investors as a sign of strategic reinvestment into the company's operations, potentially leading to an increase in FNF's stock price in the short term.
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IMPORTANCE 75
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