Johnson Controls (JCI) this week announced that the Securities and Exchange Commission has declared effective the Registration Statement on Form 10 filed by its automotive seating and interiors business, Adient, in connection with its spin-off from Johnson Controls.
The effectiveness of the Form 10 is one of the final important steps toward completing the separation, which is set to occur on Oct. 31 through a distribution to Johnson Controls shareholders of one ordinary share of Adient for every 10 ordinary shares of Johnson Controls held as of the close of business on Oct. 19, the record date for the distribution.
Adient ordinary shares are expected to begin trading on the New York Stock Exchange on Oct. 31, 2016 under the symbol “ADNT.”