Google Creates Spinoff

Iria · Dec 23, 2005, 10:27 PM

Google will create a limited liability company that will own the $1 billion 5 percent equity interest the search engine giant will acquire in Time Warner's America Online subsidiary.

Moreover, as of July 1, 2008, this new company, which Google calls HoldCo, will be able to register for an initial public offering (IPO), according to a document Google filed with the U.S. Securities and Exchange Commission this week.

"If we exercise this right, Time Warner will have the right to purchase our interests for cash or shares of Time Warner stock based on an appraised fair market value of our equity interest in HoldCo in lieu of conducting an initial public offering," the document reads.
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Read More / Source: PC World

Dec 23, 2005, 10:27 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Google Creates Spinoff Google will create a limited liability company that will own the $1 billion 5 percent equity interest the search engine giant will acquire in Time Warner's America Online subsidiary. Moreover, as of July 1, 2008, this new company, which Google calls HoldCo, will be able to register for an initial public offering (IPO), according to a document Google filed with the U.S. Securities and Exchange Commission this week. "If we exercise this right, Time Warner will have the right to purchase our interests for cash or shares of Time Warner stock based on an appraised fair market value of our equity interest in HoldCo in lieu of conducting an initial public offering," the document reads. ____________ Read More / Source: PC World