Aug. 14, 2012 /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE: FNF), a leading provider of title insurance, mortgage services and restaurant and diversified services, today announced that it has purchased 1,183,091 additional shares of Remy International, Inc. ("Remy") common stock, thereby increasing its ownership position to 50.2%. As a result, FNF will begin consolidating the financial results of Remy and will include those results in the third quarter of 2012. FNF will also report Remy as a distinct reporting segment in its reported financial results.
"We continuously pursue avenues to unlock the value of Remy for FNF shareholders," said Chief Executive Officer George P. Scanlon. "Given the current market valuation, we believe our shareholders are best served by FNF increasing our stake and taking a majority ownership position to best control the future of our investment. We are confident the increased transparency of a consolidated Remy will be beneficial in ultimately realizing the maximum value of this investment for our shareholders."
Fidelity National Financial, Inc. (NYSE: FNF), is a leading provider of title insurance, mortgage services and restaurant and other diversified services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also owns a 55% stake in American Blue Ribbon Holdings, LLC, an owner and operator of the O'Charley's, Ninety Nine Restaurant, Max & Erma's, Village Inn, Bakers Square and Stoney River Legendary Steaks concepts. In addition, FNF also owns a majority stake in Remy International, Inc., a leading designer, manufacturer, remanufacturer, marketer and distributor of aftermarket and original equipment electrical components for automobiles, light trucks, heavy-duty trucks and other vehicles. FNF also owns a minority interest in Ceridian Corporation, a leading provider of global human capital management and payment solutions. More information about FNF can be found at
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