Black Knight Announces Shareholder Approval and Closing of Spin-Off Transaction

10/2/17

JACKSONVILLE, Fla., Oct. 02, 2017 (GLOBE NEWSWIRE) -- Black Knight, Inc. (NYSE:BKI) announced the completion of the transactions pursuant to the previously announced merger agreement among Black Knight Financial Services, Inc, Fidelity National Financial, Inc.,  Black Knight, Inc., and several subsidiaries of FNF. The merger agreement was approved on September 27, 2017 at a special meeting of shareholders of Black Knight.

As previously disclosed, the Transaction in effect resulted in the indirect distribution of FNF’s equity interests in Black Knight to the holders of FNF Group common stock. Upon the closing of the Transaction, Black Knight, Inc. became the new public parent of Black Knight Financial Services, Inc. Starting today, New Black Knight’s shares will be traded on the New York Stock Exchange (“NYSE”) under the trading symbol “BKI”. New Black Knight shares have a new CUSIP number of 09215C105. Under the organizational documents of New Black Knight, the rights of the holders of New Black Knight common stock are substantially the same rights as the former holders of Black Knight Class A common stock.

“We believe Black Knight and FNF offer investors unique value propositions, and this transaction will unlock significant value for all shareholders," said Black Knight Executive Chairman Bill Foley. “Both companies will benefit from a less complex corporate structure, enhanced trading liquidity, and eligibility for index inclusion. This transaction marks another important milestone in Black Knight’s evolution to become the premier provider of software and data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals.”

About Black Knight
Black Knight is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.

It's on us. Share your news here.

Submit your stories and articles to citybizlist today.