The Board of Fidelity National Financial, Inc. (NYSE:FNF) announced the spin-off of 15% stake in F&G Annuities & Life Inc. on March 14, 2022. As per the record date of November 22, 2022, FNF shares and will receive 68 F&G shares for every 1,000 FNF shares held. The transaction is approved by board of directors of Fidelity National Financial, Inc. and is subject to final approval by the FNF Board of Directors, filing and effectiveness of a Form 10 registration statement under the Securities Exchange Act of 1934, as amended, and any applicable regulatory approvals. As of November 18, 2022, U.S. Securities and Exchange Commission has declared F&G's amended registration statement on Form 10 effective. As of November 21, 2022, F&G Annuities & Life, Inc. ("F&G"), has announced that the common stock of F&G will begin trading today. The transaction is expected to close in third quarter of 2022. The transaction is expected to close on December 1, 2022. BofA Securities, Inc. acted as financial advisor to Fidelity National Financial, Inc. Skadden, Arps, Slate, Meagher & Flom LLP and Weil, Gotshal & Manges LLP served as FNF's legal counsel in transaction. Continental Stock Transfer & Trust Company acted as transfer agent to F&G Annuities & Life, Inc.
The Board of Fidelity National Financial, Inc. (NYSE:FNF) completed the spin-off of the 15% stake in F&G Annuities & Life Inc. on December 1, 2022. F&G. F&G has commenced "regular-way" trading of its common stock on the New York Stock Exchange ("NYSE") under the symbol "FG". FNF retains control of F&G through an approximate 85% equity ownership stake and will continue to trade on the NYSE under the symbol "FNF