Every Spin-Off
Calendar
Spin-offs completed in 2023
28 separations, 9 of them in Europe, newest first.
DateSpin-offTransactionDocuments2-year mark
Date11 Dec 2023
SyensqoSYENSEUFrom Solvay · SOLB · Euronext Brussels and Euronext Paris
TransactionSpecialty chemicals and materials (polymers, composites, battery materials, surfactants).
Documents
2-year markNon-US
Date1 Dec 2023
Worthington SteelWSFrom Worthington Industries · WOR
TransactionSpin of Worthington Steel (WS) processing unit
Documents
2-year markPassed
Date28 Nov 2023
Gosol Energy GroupEUFrom Renewable Ventures Nordic · Spotlight Stock Market
TransactionShell subsidiary RVN 3 distributed 1:1, then reverse-acquired GoSol, Swedish solar-panel installer.
Documents
2-year markNon-US
Date16 Nov 2023
Mural OncologyMURAFrom Alkermes · ALKS
TransactionSpin of Mural Oncology business (MURA)
Documents
2-year markPassed
Date1 Nov 2023
Net Lease Office PropertiesNLOPFrom W.P. Carey · WPC
TransactionSpin of Net Lease Office Properties (NLOP)
Documents
2-year markPassed
Date16 Oct 2023
NCR AtleosNATLFrom NCR · NCR
TransactionSpin of NCR Atleos ATM company (NATL)
Documents
2-year markPassed
Date4 Oct 2023
SandozEUFrom Novartis · NVS
TransactionSpin-off of Novartis's generics and biosimilars business, listed in Zurich.
Documents
2-year markNon-US
Date3 Oct 2023
Lithium AmericasLACFrom Lithium Americas (Argentina) Corp. · LAAC
TransactionSpin of Lithium Americas (LAC) assets
Documents
2-year markPassed
Date2 Oct 2023
WK Kellogg CoKLGFrom Kellogg · K
TransactionSpin of WK Kellogg Co, the North American cereal business (KLG)
Documents
2-year markPassed
Date30 Sep 2023
VeraltoVLTOFrom Danaher · DHR
TransactionSpin of Veralto environmental and applied solutions unit (VLTO)
Documents
2-year markPassed
Date30 Sep 2023
VestisVSTSFrom Aramark · ARMK
TransactionSpin of Vestis uniform services business (VSTS)
Documents
2-year markPassed
Date22 Sep 2023
EuroTeleSitesETSEUFrom Telekom Austria · TKA · Vienna Stock Exchange (prime market)
TransactionPassive mobile tower infrastructure in Austria, Bulgaria, Croatia, Slovenia, North Macedonia, Serbia.
Documents
2-year markNon-US
Date31 Aug 2023
MachTenMACTFrom LICT · LICT
TransactionPartial spin of MachTen telecom assets (MACT)
Documents
2-year markPassed
Date3 Aug 2023
Liberty LiveLLYVKFrom Liberty Media
TransactionCreation of Liberty Live tracker (LLYVA)(LLYVK)
Documents
2-year markPassed
Date18 Jul 2023
Atlanta Braves HoldingsBATRKFrom Liberty Media
TransactionSplit-off of Atlanta Braves Holdings (BATRA)(BATRK)
Documents
2-year markPassed
Date6 Jul 2023
Hexagon PurusHPUREUFrom Hexagon Composites · HEX · Euronext Oslo Børs
TransactionDividend in kind of 69.2M Hexagon Purus shares (0.3432 per HEX share) in hydrogen/zero-emission mobility systems maker; HEX economic exposure fell to ~43%.
Documents
2-year markNon-US
Date5 Jul 2023
PHINIAPHINFrom BorgWarner · BWA
TransactionSpin of PHINIA (PHIN) fuel systems and aftermarket units
Documents
2-year markPassed
Date3 Jul 2023
FortreaFTREFrom Labcorp · LH
TransactionSpin of Fortrea (FTRE) clinical development business
Documents
2-year markPassed
Date1 Jun 2023
Knife RiverKNFFrom MDU Resources · MDU
TransactionSpin of Knife River construction materials unit (KNF)
Documents
2-year markPassed
Date24 May 2023
SEALSQLAESEUFrom WISeKey International · WIHN (SIX) / WKEY (Nasdaq) · Nasdaq
TransactionSecure semiconductors / post-quantum secure chips and PKI hardware.
Documents
2-year markNon-US
Date16 May 2023
Aros BostadsutvecklingEUFrom ALM Equity · ALM · Nasdaq First North Growth Market
TransactionDistribution of ALM's holding in already-listed residential developer Aros Bostad: 1 Aros share per 10 ALM common shares (taxable value SEK 36.40/share; ~SEK 40M total per Affärsvärlden headline).
Documents
2-year markNon-US
Date20 Apr 2023
Madison Square Garden EntertainmentFrom Madison Square Garden Entertainment (MSGE) to be renamed MSG Sphere · SPHR
TransactionPartial spin of live entertainment and networks units, to be renamed Madison Square Garden Entertainment
Documents
2-year markPassed
Date20 Apr 2023
Dowlais GroupDWLEUFrom Melrose Industries · MRO · LSE Main Market (premium listing)
TransactionGKN Automotive (driveline), GKN Powder Metallurgy and GKN Hydrogen auto-components group.
Documents
2-year markNon-US
Date3 Apr 2023
Crane NXTCXTFrom Crane · CR
TransactionSeparation of Crane NXT industrial technology business (CXT); Crane is the SpinCo
Documents
2-year markPassed
Date31 Mar 2023
Star HoldingsSAFEFrom iStar · STAR
TransactionSpin of non-ground lease assets in Star Holdings (STHO) and stock in New Safehold (SAFE)
Documents
2-year markPassed
Date23 Feb 2023
Lumine GroupLMGIFFrom Constellation Software · CNSWF
TransactionPartial spin of Lumine Group (LMGIF)
Documents
2-year markPassed
Date12 Jan 2023
Scandinavian Astor GroupASTOREUFrom Renewable Ventures Nordic · Spotlight Stock Market
TransactionShell subsidiary RVN 2 distributed 1:1, then reverse-acquired Astor (Swedish defence/security technology group); moved to NGM Main Market 2025-12-04.
Documents
2-year markNon-US
Date3 Jan 2023
GE HealthCareGEHCFrom General Electric · GE
TransactionSpin of GE HealthCare (GEHC)
Documents
2-year markPassed
Gold links open the source document. Grey links open the SEC EDGAR search for the company where a direct link is not yet verified. European deals link to the company release, the exchange notice or a news report until the release is on file. The 2-year mark approximates the end of the Section 355(e) presumption period and applies to US deals only. Methodology.