National Oilwell Varco Board of Directors Approves Spin-Off of NOW Inc.
National Oilwell Varco, Inc. (NYSE: NOV) announced today that its board of directors has given final approval for the spin-off of its distribution business. The resulting company will be known as NOW Inc. (“NOW”) and will be headquartered in Houston. The separation will be completed by way of a pro rata distribution of all …
National Oilwell Varco Announces Certain Management Changes Related to Its Distribution Spinoff
National Oilwell Varco, Inc. announced the name of an additional member of the Executive Management team for its previously announced plan to spin off to its shareholders its Distribution Business as an independent publicly traded company. On the effective date of the spinoff, Mr. Raymond Chang will become the Vice …
National Oilwell Varco Announces Plan to Pursue Spin-Off of Distribution Business into Separate Publicly Traded Company
National Oilwell Varco, Inc. announced today that its Board of Directors has authorized Company management to move forward with exploration of a plan to spin-off NOV’s distribution business from the remainder of the Company, creating two stand-alone, publicly traded corporations. The Company believes that the separation of the distribution business …