Shareholders have approved British retailer GUS PLC’s plans to spin off Costa Mesa-based Experian Group, a credit checking company, on Oct. 10, according to online reports.
The “demerger” will split Experian and Britain’s Argos Retail Group.
As part of the deal GUS shareholders will receive one share in both Argos Retail and Experian for every GUS share they hold.
Trading in GUS shares is due to be suspended Oct. 6, and trading in shares of Argos and Experian is expected to start Oct. 11, according to ShareCast.com.
As part of that shift, Don Robert, chief executive of Experian, is set to move from Orange County to London, where an independent Experian is set to be based.
