Dong Fang Offshore (TPE:7786) board approved the spin-off of its Orient Innovator Division into a newly established unit, tentatively named Orient Innovator, according to a Monday Taiwan Exchange filing.
The spin-off, which includes the division's assets, liabilities and business, is scheduled to take effect on Sept. 15, subject to any adjustments.
The company also notified creditors that they may submit written objections to the spin-off by Aug. 27.
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