XPO Logistics intends to separate its tech-enabled brokered transportation services from its less-than-truckload (LTL) business in North America, reports the American Journal of Transportation.
The plan is intended to be tax-free to XPO shareholders and would create two focused, publicly traded companies at the top of their industries.
The spin-off's corporate headquarters are expected to be in Charlotte, North Carolina.
Upon completion of the spin-off, XPO's North American LTL segment would be a pure-play LTL industry leader with the corporate headquarters expected to be in Greenwich, Connecticut.
"Our two core businesses of North American less-than-truckload and tech-enabled truck brokerage are industry-leading platforms in their own right, each with a distinct operating model and a high return on invested capital," said XPO Logistics CEO Brad Jacobs.
"We believe that by separating these businesses through a spin-off, we can significantly enhance value creation for our customers, employees and shareholders, as we did with our successful spin-off of GXO last year."
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