Monthly Archives: July 2018

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A Venezuelan Spin-Off, Anybody?

Dear Mercantil Servicios Financieros, C.A. Shareholder, On December 15, 2017, our shareholders voted to approve the separation of our subsidiary, Mercantil Bank Holding Corporation, or the Company, through a spin-off. We believe that Mercantil Servicios Financieros, C.A., which we call MSF, and the Company will be better-positioned, as separate, independent companies, to capture growth opportunities by operating with…

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Red Oak Critical of EDUC Governance

July 3, 2018 Educational Development Corporation 5402 South 122nd East Avenue Tulsa, OK 74146 Attention: Board of Directors Dear Members of the Board, As you are aware, Red Oak Partners, LLC (“Red Oak”) is a long-term shareholder of Educational Development Corporation (“EDUC” or the “Company”). Red Oak and funds under its control currently own 7.7% of…

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Autoliv Completes Veoneer Spin-Off

Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb) the worldwide leader in automotive safety systems, today announced the completion of the spin-off of its electronics segment, Veoneer, Inc. With the completion of the spin-off, Veoneer, Inc. will today begin regular way trading on the New York Stock Exchange and will begin trading on Nasdaq Stockholm as an…

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DDR Completes Retail Value Spin-Off

BEACHWOOD, Ohio — July 2, 2018, DDR Corp. (NYSE:DDR) today announced that it has completed the previously announced spin-off of Retail Value Inc. (“RVI”), which is now an independent, publicly traded company that will begin regular-way trading today on the New York Stock Exchange (“NYSE”) under the ticker symbol “RVI.” RVI has a portfolio of…

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Seadrill Emerges from Chapter 11

Hamilton, Bermuda, July 2, 2018 – Seadrill Limited (“Seadrill” or the “Company“) announces today (the “Effective Date“) that it has emerged from chapter 11 after successfully completing its reorganization pursuant to its chapter 11 plan of reorganization (the “Plan“). All conditions precedent to the restructuring contemplated by the Plan have been satisfied or otherwise waived. The Plan…