After successfully spinning off J. Alexanders (JAX) late last year, Fidelity National Ventures (FNFV) was set to spin off the rest of its restaurant assets under the holding company American Blue Ribbon Holding. Then plans changed. The headline was that the spin was delayed due to ‘market conditions’, a catchall phrase that is especially useful during market volatility, but… Read More »
Fidelity National Financial (FNF) scooped up a number of businesses during the crisis and set up a tracking stock, Fidelity National Financial Ventures (FNFV) to track and highlight the value of those assets. It has since pursued an aggressive monetization plan, including both sales and spinoffs. On the spinoff front, it separated Remy International at the end of… Read More »
While it was no Summer of Spin, the month of September witnessed plenty of activity on the spinoff front. In the days prior to month end: SPX Corporation (SPXC) spun off its flow products business into the aptly named SPX FLOW (FLOW) Fidelity National Financial Ventures (FNFV) unloaded part of its restaurant empire into J. Alexander Holdings (JAX) in a… Read More »
Fidelity National Financial (FNF) went on a buying spree during the crisis and snapped up an eclectic bunch of assets. The company set up a tracking stock, quite a rare breed, FNFV, in order to track the value of this eclectic group of businesses. After some prodding from Corvex Capital, the company is now in the process of monetizing… Read More »