Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria agreed to Spin-Off IRSA Inversiones y Representaciones Sociedad Anónima.
October 04, 2023
Share
The Board of Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (BASE:CRES) announced the spin-off of 3% stake in IRSA Inversiones y Representaciones Sociedad Anónima (BASE:IRSA) on October 5, 2023. As per the transaction, IRSA will issue 0.03759065836 shares for every 1 share held in Cresud as of the local record date of October 11, 2023.
IRSA Inversiones y Representaciones Sociedad Anonima is a holding company. The Company invests on its own behalf and through investee companies in companies operating in various sectors of the Israeli and global economy. The Company's segments are Cellcom, which includes cellular telephone services, content and added value services, other services and revenues from the sale of end user equipment in the cellular field; Property and Buildings and projects in Las Vegas, which includes the rental of income-generating properties and residential buildings; Shufersal, which includes retail and the rental of income-generating properties; Adama, which includes the sale of agro products and non-agro products; Clal Insurance Enterprise Holdings, which operates through subsidiary companies in the fields of insurance, pensions and provident funds, in the field of financial services and in the holding of assets and real businesses, and Others.