Alliance Data Completes Spinoff of LoyaltyOne Segment [MarketWatch]
Alliance Data Systems Corporation (ADS)
Last alliance data systems corporation earnings: 4/23 07:30 am
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Source: MarketWatch
leading provider of tech-forward payment and lending solutions, today announced that it has completed the previously announced separation of its LoyaltyOne segment, consisting of the Canadian AIR MILES ® Reward Program and Netherlands-based BrandLoyalty businesses, into an independent, publicly traded company, Loyalty Ventures Inc. Loyalty Ventures common stock will begin regular-way trading today on Nasdaq under the ticker symbol "LYLT." "The completion of our LoyaltyOne segment spinoff is an important milestone in our Company's history as it represents the achievement of our stated goals to simplify our business model and narrative, and focus on assets with the highest growth potential," said Ralph Andretta, president and chief executive officer, Alliance Data. "Loyalty Ventures has a solid management team and business strategy in place, and as both businesses move forward independently, I am confident that each is well positioned for future success. The completion of this transac
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