Fairfax is heading down the de-merger route by hiving off its Domain online property business. A statement to the ASX Tuesday morning asked for Fairfax shares to be placed in a trading halt “pending an announcement in relation to the Domain Group”. The trading halt came ahead of tomorrow’s financial results for the six months to December 31. The Domain spin-off is expected to be revealed then. Fairfax took write-downs of $900 million or more in May 2016 to de-merge Domain from the rest of the company and turn it into a standalone business. The Financial Review reports that Domain will be a separately listed company, with Fairfax owning between 60% and 70%, much the way that REA Group is 61%-owned by News Corp and accounts for the majority of the Murdoch clan company’s market value.
More signs Fairfax is looking to spin off Domain
The Financial Review reports that Domain will be a separately listed company.