Sears Holdings files for partial spin off of its interest in Sears Canada
HOFFMAN ESTATES, Ill. — Sears Holdings announced that Sears Canada has filed a Registration Statement on Form 20-F with the U.S. SEC in connection with the company’s previously announced plan to spin-off a portion of its interest in Sears Canada.
Sears Holdings currently owns approximately 95% of the issued and outstanding common shares of Sears Canada. Following the spin-off, Sears Holdings will retain approximately 51% of the issued and outstanding common shares of Sears Canada. Sears Canada will continue to be listed on the Toronto Stock Exchange.