Fidelity National Unit Sells Some Assets
Fidelity National Financial Inc., focusing more on its core title underwriting business, said Tuesday that one of its units sold its micro-ticket lease portfolio and certain assets to Newcourt Financial USA Inc. for $22.15 million in cash.
The Irvine title insurer said in a press release that its FNF Capital Inc. sold leases for credit card terminals and other point-of-sale processing equipment and software to consolidate its leasing operations.
The sale allows FNF Capital to focus on more traditional lease arrangements and furthers Fidelity’s effort to concentrate on its core business lines as its merger with Chicago Title Corp. approaches, the company said.
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