Alibaba (BABA) Approves Cloud Intelligence Group Spin-Off
Get Alerts BABA Hot Sheet
Join SI Premium – FREE
Alibaba (NYSE: BABA) announced:
Our board of directors approved a full spin-off of the Cloud Intelligence Group via a stock dividend distribution to our shareholders. Prior to the spin-off, we plan to include external strategic investors in Cloud Intelligence Group through private financings. In connection with the spin-off, Cloud Intelligence Group intends to become an independent publicly listed company. The spin-off will be subject to restructuring of certain assets, liabilities and contracts, implementation of employee equity incentive plans, market conditions, as well as regulatory reviews and approvals in relevant jurisdictions. We intend to structure the spin-off in the most tax-efficient way for our shareholders. Subject to the transactions, conditions and approvals described above, we target to complete the spin-off in the next 12 months.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Active options: PLTR F BABA CPRI SNAP TSM T NFLX INTC SMCI
- Business First Bancshares Inc. (BFST) to acquire Oakwood Bancshares
- T-Mobile posts mixed Q1 top and bottom line, expects more subscribers in 2024
Create E-mail Alert Related Categories
Corporate News, SpinoffsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!