Fidelity National Financial Inc. has sold part of its stake in the Memphis health insurance claim manager Sedgwick CMS Inc. to UnitedHealth Group Inc. of Minnetonka, Minn.
Fidelity said Thursday that it would keep a 32% stake.
The Jacksonville, Fla., company and two private-equity firms, Thomas H. Lee Partners and Evercore Partners, acquired Sedgwick in 2006; when the transaction closed, Fidelity owned a 40% stake.
UnitedHealth Group also said it has purchased shares in Sedgwick from the private-equity companies, and now owns a 20% stake in the company.
William P. Foley 2nd, Fidelity's chairman, said in a press release that selling a portion of its stake in Sedgwick "is consistent with our stated goal of creating liquidity from the sale of some of our assets."
Fidelity did not say how much UnitedHealth paid.
In January, UnitedHealth bought Fiserv Inc.'s health-care processing operations for $775 million.
