Liberty Interactive said it expects to complete the planned spin-off of its online sales company CommerceHub to shareholders of its other subsidiary, Liberty Ventures on July 13.
Liberty Interactive first announced the deal in November.
The move came after a flurry of deals that month by Liberty, including its plans to spin Liberty Braves, Liberty Media and Liberty Sirius into three separate tracking stocks. Those deals were completed earlier in the year. The CommerceHub shares won’t be trackers, they will be backed by hard assets. Liberty Interactive also as plans to spin off its 16% interest in online travel company Expedia at a later date.
According to the deal, Liberty Interactive will distribute shares of CommerceHub – CH Parent, CH Parent Series C and CH Parent Series C – as a dividend to Liberty Ventures shareholders on July 13. Liberty Ventures holders will receive 0.1 share of the corresponding series of CH Parent common stock and 0.2 share of CH Parent Series C common stock for each share of Liberty Ventures common stock held as of the record date.
Liberty expects that CH Parent shares will begin “regular way” trading on the NASDAQ Global Select Market under the symbols “CHUBA” and “CHUBK” and that CH Parent Series B shares will be quoted on the OTC Markets under the symbol “CHUBB” beginning July 14.
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