Financial News

Cannae Holdings, Inc. Announces Sale of Its Interest in Optimal Blue to Black Knight, Inc.

Total Transaction Value of $578 Million

Proceeds Include Shares of Dun & Bradstreet and Cash

Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae” or the “Company”) today announced that it has sold its 20% interest in Optimal Blue Holdco, LLC (Optimal Blue) to Black Knight, Inc. (NYSE:BKI) for total consideration of $578 million.

William P. Foley II, Chairman of Cannae, commented, “Optimal Blue has been a terrific operation and outperformer from day one of our investment, culminating in a 2x return on our $289 million investment made less than 18 months ago.”

The consideration received is comprised of $144.5 million in cash and 21.8 million shares of Dun & Bradstreet Holdings, Inc. (“Dun & Bradstreet” or “D&B”) valued at $433.5 million. This transaction, after fees, increases Cannae’s ownership of D&B from 68 million shares, or 16%, to 88 million shares, or 20% of Dun & Bradstreet. Foley continued, “We continue to see expanding growth opportunities both organically and inorganically in D&B and are excited to increase our commitment in terms of share ownership.”

About Cannae Holdings, Inc.

Cannae Holdings, Inc. (NYSE: CNNE) is engaged in actively managing and operating a group of companies and investments, as well as making additional majority and minority equity portfolio investments in businesses. Cannae’s current principal holdings include Dun & Bradstreet Holdings, Inc. (NYSE: DNB), in which Cannae holds 88 Million shares or 20% interest. Cannae’s second principal holding is Ceridian (NYSE: CDAY), in which Cannae owns 8 Million shares representing 5% interest. Cannae holds 60 Million shares, or 8% of Paysafe (NYSE: PSFE), as well as 8.1 Million Paysafe warrants. Cannae also holds 52.5 Million shares, or 10%, of Alight, Inc. (NYSE: ALIT), and 28.2 Million shares, or 26%, of System1, Inc. (NYSE: SST), as well as 1.2 Million warrants to purchase SST shares. Cannae’s other principal holdings include Sightline Payments, of which Cannae owns 33%.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • US News
  • Weather
  • State News
  • Events
  • Traffic
  • Sports
  • Dining Guide
  • Real Estate
  • Classifieds
  • Financial News
  • Fire Info
Feedback