Alliance Data Systems spinoff of Loyalty Ventures
We advised Alliance Data Systems on its spinoff transaction
Davis Polk advised Alliance Data Systems Corporation (“ADS”) in connection with the spinoff of its LoyaltyOne segment into Loyalty Ventures Inc., an independent, publicly traded company through a distribution of 81% of the shares of Loyalty Ventures’ common stock to ADS’ shareholders.
ADS is a leading provider of tech-forward payment and lending solutions, serving customers and consumer-based industries in North America across industries: retail, travel, auto, medical and more.
Loyalty Ventures will own and operate the AIR MILES Reward Program, Canada’s most recognized loyalty program, and Netherlands-based BrandLoyalty, a global provider of purpose-driven, tailor-made campaign-based loyalty solutions for grocers and other high-frequency retailers whose network spans across six continents and 54 countries.
The Davis Polk corporate team included partners Louis L. Goldberg and John. B. Meade and associates Meaghan Kennedy, Joshua B. Pittell and Dylan Major. The tax team included partner William A. Curran and associate Yixuan Long. Partner Adam Kaminsky and associate Tessa Patti provided executive compensation advice. Partner Frank J. Azzopardi and associate Jesse L. Hallock provided intellectual property advice. Members of the Davis Polk team are based in the New York and Washington DC offices.