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Corporate divisions or spin-offs are allowed in many jurisdictions, but the Texas divisive merger is distinctive because it treats the division as a merger. [1] Notably, in a Texas two-step bankruptcy the parent company still maintains control over the spin-off by appointing its board and executives. [1]
The company was a Corporate spin-off from Carrols Restaurant Group in 2012. Stock in the company was traded on NASDAQ as FRGI until October 2023 when it was taken private by investment firm Garnett Station Partners through its subsidiary Authentic Restaurant Brands. [1] Fiesta's 2019 revenue was $661 million and employs over 10,000 people. [2] [3]
Spin-off entity Transaction value (in billions USD) Inflation adjusted (in billions 2022 USD) Ref 1 2024 General Electric Company: GE Aerospace, GE Vernova, GE Healthcare: 191 191 [1] 2 2008 Altria Group: Philip Morris International: 108 141 [2] [3] 3 2000 BCE: Nortel: 60 97 [3] 4 2013 Abbott Laboratories: AbbVie: 56 67 [3] 5 2015 eBay: PayPal ...
Pages in category "Corporate spin-offs" The following 200 pages are in this category, out of approximately 321 total. This list may not reflect recent changes .
Spin-offs occur when the equity owners of the parent company receive equity stakes in the newly spun off company. [6] For example, when Agilent Technologies was spun off from Hewlett-Packard (HP) in 1999, the stockholders of HP received Agilent stock. A company not considered a spin-off in the SEC's definition (but considered by the SEC as a ...
2001 – Information Services Extended department, developer of specialized databases and software for telephone directory assistance, is spun off to form privately held company ISx, Inc (later sold to Local Matters). December 31, 2002 – IBM sells its HDD business to Hitachi Global Storage Technologies for approximately $2 billion.
A Reverse Morris Trust is used when a parent company has a subsidiary (sub-company) that it wants to sell in a tax-efficient manner. The parent company completes a spin-off of a subsidiary to the parent company's shareholders. Under Internal Revenue Code section 355, this could be tax-free if certain criteria are met. The former subsidiary (now ...
Equity carve-out (ECO), also known as a split-off IPO or a partial spin-off, is a type of corporate reorganization, in which a company creates a new subsidiary and subsequently IPOs it, while retaining management control. [1] [2] Only part of the shares are offered to the public, so the parent company retains an equity stake in the subsidiary ...