Yahoo's Alibaba stake will become Aabaco Holdings

Nieuws Breedband Wereld 20 JUL 2015
Yahoo's Alibaba stake will become Aabaco Holdings

Yahoo! is moving forward with plans to spin off its stake in Alibaba and create a separately listed public company. Yahoo has registered the spin-off with the US Securities and Exchange Commission (SEC) and selected a name for the new public company: Aabaco Holdings.

Under the plan announced in January, Yahoo will distribute all of the outstanding shares of Aabaco Holdings pro rata to its shareholders. Immediately after the spin-off, Aabaco Holdings will own around 384 million shares of Alibaba Group, representing an ownership interest of 15 percent in Alibaba Group, and a 100 percent ownership interest in a newly formed entity which will own Yahoo Small Business.

Yahoo expects to complete the transaction in the fourth quarter, subject to the final approval of its board and the  satisfaction or waiver by Yahoo of certain other conditions.

Categories:

Internet

Companies:

Yahoo!,  Alibaba

Regions:

Wereld

Tags:

Shareholders & subsidiaries, Corporate strategy, M&A buyouts & divestments

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