TCF Unit Buys Fidelity National Capital

MINNETONKA, Minn. (AP) — Winthrop Resources Corp., a subsidiary of TCF Financial Corp., said Friday it has closed on the acquisition of Fidelity National Capital Inc.

Minus the repayment of debt, the sale of Fidelity National Capital netted about $50 million for its former parent, Jacksonville, Fla.-based Fidelity National Financial Inc. FNF sells title insurance, specialty insurance, claims management services and information services.

The sale reduced Fidelity National Financial's non-recourse consolidated debt by $214 million, it said in a statement.

Fidelity National Capital has a portfolio of about $250 million in leases.

Winthrop's owner, TCF, is a holding company based in Wayzata, Minn. Winthrop is based in Minnetonka, Minn.

Shares of TCF fell 12 cents to close at $13.94 on Friday, and Fidelity National's shares rose 14 cents to close at $14.84.