Alliance Data will spin off LoyaltyOne, pay down debt
The Columbus-based company says the spinoff of its LoyaltyOne segment should be completed by year-end. The segment is made up of the Canadian Air Miles Reward Program and Netherlands-based BrandLoyalty business. Alliance Data shareholders will receive shares in both companies, and Alliance Data said it will retain a minority ownership stake in the new company. The combined companies have about 8,000 workers. Of that number, about 3,000 are in Columbus. Where the new company will be based or if it will have employees in central Ohio hasn't been determined. "Alliance Data is committed to contin...
Source: dispatch.com
