Exela Announces Plans to Spinoff Its BPA Business to Maximize Shareholder Value

IRVING, Texas, July 01, 2024 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or the "Company") (NASDAQ:XELA, XELAP))), a business process automation leader, today announced that its Board of Directors (the "Board") has authorized Exela to consider a spin-off of its wholly-owned subsidiary, Exela Technologies BPA, LLC, to Exela stockholders to maximize shareholder value. Exela is evaluating whether, for U.S. federal income tax purposes, the potential spin-off qualifies as a tax-free distribution under ...