Exela Technologies Plans To Spin-off Its BPA Business

(RTTNews) - Exela Technologies, Inc. (XELA), a business process automation firm, said on Monday that its Board has authorized Exela to consider a spin-off of its wholly-owned subsidiary, Exela Technologies BPA, LLC.

The spinoff aims to maximize Exela shareholders' value.

If the spin-off happens, then Exela stockholders will receive their pro-rata share of a newly formed holding company owning Exela's business process automation business.

The shareholders will continue to own Exela, as currently constituted, including its over 70 percent ownership in XBP Europe Holdings, Inc. and the North American onsite services business, but without the BPA Business.

Loeb & Loeb LLP is serving as legal counsel to Exela on the potential spin-off.