Brink’s Home Security Registers for Spin-Off
RICHMOND, Va.
Brink’s Home Security Holdings Inc. has filed a registration statement with Securities and Exchange Commission (SEC) on anticipation of a spin-off from Brink’s Co. After pressure from shareholders in February, Brink’s planned the spin-off of its home security business to occur in the fourth quarter.
Under terms of the deal, Brink’s shareholders will receive a tax-free stock distribution from the new company.
The companies anticipate both Brink’s and Brink’s Home Security will be better positioned to pursue growth opportunities, and have more focused management and efficient capital structures.
Brink’s will continue to trade on the New York Stock Exchange under the symbol “BCO,” while Brink’s Home Security is expected to trade on the NYSE under a symbol yet to be determined.
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