A2Z Announces Proposed Spin-Off Of Its 80% Interest In Advanced Automotive Innovations Inc
Portfolio Pulse from Benzinga Newsdesk
A2Z Smart Technologies Corp. plans to spin off its 80% interest in Advanced Automotive Innovations Inc (AAI). The restructuring will make AAI a publicly traded company, with A2Z shareholders receiving equivalent pro-rata shareholding in AAI. The restructuring is expected to be completed in Q2, 2024. AAI is developing a 'Fuel Tank Inertia Capsule System' designed to prevent fuel combustion in vehicle collisions.
November 09, 2023 | 2:16 pm
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POSITIVE IMPACT
A2Z's decision to spin off AAI could potentially increase shareholder value and allow the company to focus more on its Cust2mate smart cart solution.
The spin-off could potentially increase A2Z's shareholder value as it allows the company to focus more on its core business. Additionally, A2Z shareholders will receive equivalent pro-rata shareholding in AAI, which could be beneficial if AAI's 'Fuel Tank Inertia Capsule System' proves successful.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100