FIDELITY NATIONAL FINANCIAL INC. TO PURCHASE CERTAIN ASSETS OF LAWYERS TITLE CORP.
FIDELITY NATIONAL FINANCIAL INC. TO PURCHASE CERTAIN ASSETS OF LAWYERS TITLE CORP. IRVINE, Calif., March 26 /PRNewswire/ -- Fidelity National Financial Inc. (NYSE: FNF), a leading title insurance underwriter, and Lawyers Title Corp. (NASDAQ: LTCO), a holding company for Lawyers Title Insurance Corp., headquartered in Richmond, Va., announced the signing of a letter of intent in which Fidelity National Financial will acquire, for cash, certain assets of Lawyers Title's Northern California operations in Alameda, Contra Costa, Sacramento, San Francisco, San Mateo and Santa Clara counties. This letter of intent is the culmination of discussions between the two companies which have exclusively concerned Northern California operations. The operations are part of Lawyers Title's wholly owned West Coast subsidiary, Continental Lawyers Title Co., based in Universal City, Calif. The transaction is expected to close next month. Lawyers Title Insurance Corp. will continue operation of its National Division office in San Francisco. Headquartered in Irvine, Fidelity National Financial Inc. issues title insurance and performs other title-related services in 33 states and the District of Columbia through Fidelity National Title Insurance Co., Fidelity National Title Insurance Co. of California, Fidelity National Title Insurance Co. of Tennessee and Fidelity National Insurance Company of Texas. -0- 3/26/92 /CONTACT: Jo Etta Bandy, VP-investor relations of Fidelity National Financial, 714-852-9770/ (FNF LTCO) CO: Fidelity National Financial Inc.; Lawyers Title Corp. ST: California, Virginia IN: FIN SU: TNM
DM-JL -- LA026 -- 2117 03/26/92 16:22 EST
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|Date:||Mar 26, 1992|
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