First American Corp. is buying Experian Information Solutions' 20% stake in First American Real Estate Solutions for $314 million.
First American, Santa Ana, Calif., is exercising a purchase option it holds. The deal will close at yearend.
"Experian has been a valued partner in the FARES joint venture and we look forward to furthering our working relationship with them in the coming years," said Parker Kennedy, chairman and chief executive of First American. "Our exercising of the purchase option, combined with our previously announced transactions for the non-controlling interests in First Advantage Corp. and First American CoreLogic, provide us with control over substantially all of our assets as well as provide the Information Solutions Group with increased financial and operational flexibility as it prepares to be a stand-alone public company."
