DivestmentJul 16, 2026, 05:07 PM
Cannae Holdings Sells Brasada Ranch; Amends Director's Share Agreement
AI Summary
Cannae Holdings, Inc. completed the previously announced sale of its interest in Brasada Ranch to a company owned by William P. Foley, II on July 15, 2026. In connection with this divestment, the company entered into a Letter Agreement with Mr. Foley. This agreement amends his Director Services Agreement, specifically deleting Section 11(a) which previously allowed Mr. Foley to sell 50% of his Cannae common stock back to the company at certain prices.
Key Highlights
- Cannae Holdings completed the sale of its interest in Brasada Ranch.
- Brasada Ranch was sold to a company owned by William P. Foley, II.
- A Letter Agreement was signed with Mr. Foley on July 15, 2026.
- The agreement amends Mr. Foley's Director Services Agreement (DSA).
- Section 11(a) of the DSA, allowing share repurchase, was deleted.
- Section 11(a) permitted Mr. Foley to sell 50% of his shares back to Cannae.
Price Impact
More from CNNE