Cannae Signs Deal To Sell 87% Stake In Brasada Ranch To Its Vice Chairman's Co. For ~$40M
Cannae Holdings, Inc. (NYSE: CNNE ) ("Cannae" or the "Company") today announced that it has entered into an agreement to sell its 87% ownership interest in Brasada Ranch ("Brasada"), a destination resort located in Powell Butte, Oregon, to a company owned by William P. Foley, II, Cannae’s Vice Chairman, in exchange for the termination of Mr. Foley’s put right (collectively, the "Transaction"). The Transaction represents an estimated enterprise value for Brasada of $40 million, including the assumption of approximately $17 million of debt on the property by the buyer.
Cannae Holdings, Inc. (NYSE: CNNE ) ("Cannae" or the "Company") today announced that it has entered into an agreement to sell its 87% ownership interest in Brasada Ranch ("Brasada"), a destination resort located in Powell Butte, Oregon, to a company owned by William P.
Foley, II, Cannae’s Vice Chairman, in exchange for the termination of Mr.
Foley’s put right (collectively, the "Transaction").
The Transaction represents an estimated enterprise value for Brasada of $40 million, including the assumption of approximately $17 million of debt on the property by the buyer.