Fidelity National Financial, Inc. announced that FNFV Group (NYSE: FNFV), a tracking stock established to highlight the inherent value of the portfolio companies of Fidelity National Financial, Inc., has closed on the previously announced distribution of the shares of J. Alexander’s Holdings, Inc. (“J. Alexander’s”) common stock to FNFV shareholders in a tax-free distribution.
Under the distribution plan, FNFV shareholders received 0.17272 shares of J. Alexander’s common stock for each share of FNFV common stock that they owned. J. Alexander’s is expected to begin trading on the NYSE on September 29, 2015, under the trading symbol “JAX”. The distribution of J. Alexander’s common stock is expected to generally be tax-free to FNFV shareholders for U.S. federal income tax purposes, except to the extent of any cash received in lieu of J. Alexander’s fractional shares. Source