Cannae Holdings Turns To Profit In Q3

(RTTNews) - Cannae Holdings, Inc. (CNNE) reported a third-quarter net earnings attributable to shareholders of $1.1 million or $0.02 per share compared to a loss of $16.6 million or $0.24 per share in the prior year.

Total operating revenue increased year-over-year to $293.5 million from $281.3 million last year.

On August 8, 2018, Cannae entered into a definitive agreement in partnership with an investment consortium including CC Capital and Thomas H. Lee Partners to acquire Dun & Bradstreet (DNB) in a transaction valued at $6.9 billion. Cannae's commitment is $900 million of the purchase price.

On November 6, 2018, the Company completed a restructuring of its Restaurant Group and now beneficially owns 65.4% of ABRH and 88.5% of 99 Holdings.

On November 7, 2018, the Dun & Bradstreet stockholders voted to approve the merger transaction which remains on track to close no later than during the first quarter of 2019.