July 1, 2026
Willkie is advising Cannae Holdings, Inc. (NYSE: CNNE) in connection with the sale of Brasada Ranch, a destination resort located in Powell Butte, Oregon, to a company owned by William P. Foley, II, Cannae’s Vice Chairman.
On July 1, Cannae announced that it entered into an agreement to sell its 87% ownership interest in Brasada to a company owned by William P. Foley, II, in exchange for the termination of Mr. Foley’s put right. The transaction is expected to close on or before July 15, 2026, subject to certain closing conditions.
The transaction advances Cannae’s strategic objectives to monetize a non-core asset as Cannae repositions its portfolio to focus on sports- and entertainment-related assets, eliminate the put right, and free up capital for redeployment into other higher-returning investments or capital returns to shareholders.
The Willkie team is led by partner David Drewes with associates Frederick Swanstrum, Matt Ender-Silberman, and Olivia Fakundiny.
On July 1, Cannae announced that it entered into an agreement to sell its 87% ownership interest in Brasada to a company owned by William P. Foley, II, in exchange for the termination of Mr. Foley’s put right. The transaction is expected to close on or before July 15, 2026, subject to certain closing conditions.
The transaction advances Cannae’s strategic objectives to monetize a non-core asset as Cannae repositions its portfolio to focus on sports- and entertainment-related assets, eliminate the put right, and free up capital for redeployment into other higher-returning investments or capital returns to shareholders.
The Willkie team is led by partner David Drewes with associates Frederick Swanstrum, Matt Ender-Silberman, and Olivia Fakundiny.
