Brief: Vector Group Ltd Board Approves Spin-Off Of Douglas Elliman Inc

Vector

10/12/2021 22:15

Dec 10 (Reuters) - Vector Group Ltd  VGR.N :
    * VECTOR GROUP LTD. BOARD APPROVES SPIN-OFF OF DOUGLAS
ELLIMAN
INC.
    * VECTOR GROUP LTD - SPIN-OFF EXPECTED TO BE COMPLETED IN
LATE-DECEMBER
    * VECTOR GROUP LTD - DOUGLAS ELLIMAN'S COMMON STOCK EXPECTED
TO
TRADE ON NEW YORK STOCK EXCHANGE UNDER SYMBOL "DOUG"
    * VECTOR GROUP LTD - UPON COMPLETION OF SPIN-OFF, VECTOR
GROUP
WILL OPERATE TOBACCO SEGMENT OF ITS BUSINESS
    * VECTOR GROUP LTD -  DOUGLAS ELLIMAN WILL OWN AND OPERATE
REAL
ESTATE SERVICES AND PROPERTY TECHNOLOGY INVESTMENT BUSINESS
    * VECTOR GROUP LTD -  DOUGLAS ELLIMAN WILL BE CAPITALIZED
WITH
APPROXIMATELY $200 MILLION IN NET CASH AND CASH EQUIVALENTS

Source text for Eikon:  ID:nBw6GjvVja 
Further company coverage:  VGR.N