HOVS arm HOVS LLC to demerge in US subsidiary

Source |08:48 26 Apr 25

mergers & acquisitions restructuring

HOV Services Limited announced that its wholly-owned subsidiary, HOVS LLC, has filed a plan of division (demerger) in Delaware, USA on April 17, 2025.
The demerger plan, approved by the board on February 10, 2025, aims to restructure HOVS LLC.
Rationale for demerger: To strengthen the consolidated structure of HOV Services and provide management with greater business flexibility.
Post-demerger, a new entity will be created to hold the investment assets of HOVS LLC, including equity securities of Exela Technologies, Inc.
HOV Services will receive stock in the new entity, with no cash consideration involved.
The resulting entity will remain an unlisted overseas subsidiary and will not be listed on exchanges.

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