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Article: INFe Plans to 'Spin Off' Subsidiaries; Company to Streamline Operations and Offer Shareholders Stock Dividends.
- Article from:
- PR Newswire
- Article date:
- March 18, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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INFe, Inc. (BULLETIN BOARD: INFEE, INFE) announced today that it plans to "spin off" several subsidiaries this year, streamline its operations and function as a holding company by making acquisitions of operating companies. The goal is to reach INFe profitability quickly through acquisitions that have recurring revenues and profits.
The initial divestiture plans involve three of its five subsidiaries: INFe-Human Resources, Inc., INFe-Ventures, Inc., and ITCareerNet.com, Inc. Each spin-off will become a stand-alone company or will be merged with another public company. Shareholders of INFe will become shareholders of each spun-off entity through a dividend of ...