Spin-Off

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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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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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Novartis to Spin Off Eye Care Unit

Basel, June 29, 2018 – Novartis today announced its intention to spinoff Alcon, its eye care division, into a separately-traded standalone company. The planned spinoff would enable Novartis and Alcon to focus fully on their respective growth strategies. Completion of the transaction is subject to general market conditions, tax rulings and opinions, final Board of Directors…

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KAR Auction Files Form 10 for SpinCo

Dear KAR Stockholder: In February, KAR Auction Services, Inc. (“KAR”) announced plans to separate its salvage auction businesses. The separation will occur by means of a spin-off of a newly formed company named IAA Spinco Inc. (“IAA”), which will contain the pre-separation salvage auction businesses of KAR, currently operated by KAR’s subsidiaries, Insurance Auto Auctions,…

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Possible Rangers/Knicks Spin Off in the Works

It’s not the Yankees but still, interesting… Item 8.01 Other Events The Madison Square Garden Company (MSG) today announced that its board of directors has unanimously approved a plan to explore a possible spin-off that would separate its sports businesses from its entertainment businesses, creating two distinct publicly traded companies. If MSG proceeds with the spin-off transaction, it would be…

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GE to Spin Off Healthcare Unit

BOSTON – 26 June 2018: GE (NYSE: GE) today announced the results of its strategic review. GE will focus on Aviation, Power and Renewable Energy, creating a simpler, stronger, leading high-tech Industrial company. In addition to the pending combination of its Transportation business with Wabtec, GE plans to separate GE Healthcare into a standalone company, pursue…

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Son of a.. Almost Missed This Little Spin-off!

ALAMEDA, Calif.–(BUSINESS WIRE)–Jun. 8, 2018– BioTime, Inc. (NYSE American: BTX), a clinical-stage biotechnology company focused on degenerative diseases, announced that a draft registration statement on Form 10 was submitted to the U.S. Securities and Exchange Commission (the “SEC”). The draft registration statement relates to the proposed distribution of some or all of BioTime’s shares of AgeX Therapeutics, Inc. (“AgeX”) common stock,…

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DDR Files Form 10 for Retail Value Spinoff

Dear DDR Corp. Shareholder: We are pleased to inform you that the Board of Directors of DDR Corp., or DDR, has declared the distribution of all the common shares of Retail Value Inc., or RVI, a wholly-owned subsidiary of DDR, to DDR’s shareholders. RVI holds 49 assets, comprised of 37 continental U.S. assets and the…

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OA Spin-Off Calendar

# Announced Date Parent Ticker Parent Co Name Spin-Off Ticker Spin-Off Co Name Spin-Off Description Most Recent Filing Transaction Date 1 12/11/15 DWDP DowDuPont Inc. TBD Corteva Agriscience Agriculture NA By 6/1/19 1 12/11/15 DWDP DowDuPont Inc. TBD Dow Material Science NA By EOF Q1-19 1 12/11/15 DWDP DowDuPont Inc. TBD DuPont Specialty Products NA…

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Autoliv Provides Spin-Off Details

Autoliv Board approves completion of spin-off May 24, 2018 –       Board of directors approves completion of spin-off and sets record date –       New board members of Veoneer –       Details on share distribution and first day of trading –       Bridge financing –       Details on second quarter reporting (Stockholm, Sweden, May 24, 2018) – Autoliv, Inc. (NYSE: ALV and SSE:…

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Euroseas Provides Spin-Off Details

Euroseas Ltd. Announces the Effectiveness of the Registration Statement and Approval for Listing on the NASDAQ Capital Market of EuroDry Ltd, its Drybulk Fleet Spin-Off Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced that the registration statement on Form F-1…

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Trinity Files Form 10 for Arcosa Spinoff

Dear Trinity Industries Stockholder: In December 2017, we announced our plan to separate Trinity Industries, Inc. into two standalone, publicly traded companies through the spin-off of our infrastructure-related businesses to our stockholders. Upon completion of the spin-off, Trinity will continue to operate our integrated rail manufacturing, leasing, and services businesses, together with certain other businesses….

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Wyndham Worldwide Sets Spinoff Date

PARSIPPANY, N.J., May 9, 2018 /PRNewswire/ — Wyndham Worldwide Corporation (NYSE: WYN) today announced that its Board of Directors has approved the previously announced spin-off of its wholly-owned subsidiary Wyndham Hotels & Resorts, Inc., the world’s largest hotel franchisor with more than 8,300 affiliated hotels.  The distribution is expected to occur after the market close on May 31, 2018 to Wyndham Worldwide stockholders of…

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Euroseas Announces Spin Off

Drybulk Fleet Spin-off The Company announced that it filed a registration statement on Form F-1 with the Securities and Exchange Commission to spin-off the Company’s drybulk fleet into a separate company, EuroDry Ltd., which has applied for listing on the NASDAQ Capital Market. Aristides Pittas, Chairman and CEO of Euroseas commented: “Although our revenues continued…

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La Quinta Sets Date for Spin Off

IRVING, Texas, May 08, 2018 (GLOBE NEWSWIRE) — La Quinta Holdings Inc. (“La Quinta” or the “Company”) (NYSE:LQ) today announced that its Board of Directors has formally approved the distribution to its stockholders of all of the outstanding shares of common stock of CorePoint Lodging Inc. (“CorePoint Lodging”), which will become the holder of the owned real estate assets previously held by…

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DXC Tech Sets Perspecta Spinoff Date

DXC Technology (NYSE: DXC) today announced that its Board of Directors has set a record date of May 25, 2018 for the previously announced spin-off of its U.S. public sector business into a new, publicly traded company named Perspecta Inc. Subject to satisfaction of applicable conditions, the distribution of shares of common stock of Perspecta is expected…

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Ironwood Pharma to Split into Two

CAMBRIDGE, Mass.–(BUSINESS WIRE)– Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD), a commercial biotech company, today announced that its Board of Directors has authorized an intent to separate into two independent, publicly traded companies (Ironwood and “R&D Co.”). The separation is expected to be completed in the first half of 2019 and is anticipated to be tax-free to Ironwood shareholders….

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Spirit Realty Sets Date for Spin Off

DALLAS, May 1, 2018 /PRNewswire/ — Spirit Realty Capital, Inc. (NYSE: SRC) (“Spirit” or the “Company”) announced today that its Board of Directors has formally declared the distribution of common stock of Spirit MTA REIT (“SMTA”) in connection with the spin-off of SMTA from Spirit Realty Capital, Inc. Following the distribution, SMTA will be an independent, publicly-traded real estate…

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Autoliv Files Form 10 for Veoneer Spin

Dear Autoliv, Inc. Stockholder: On December 12, 2017, we announced that, following the conclusion of a strategic review by our Board of Directors, we intend to spin-off our Electronics business segment, creating a new, independent publicly traded company called Veoneer, Inc. (“Veoneer”). Over the last decade, our Electronics business has grown and matured next to our world leading…