Standard-Pacific Completes Limited Partnership Shift
Costa Mesa home builder Standard-Pacific Corp. said it has completed its reorganization into a limited partnership by liquidating all assets and liabilities of the company and transferring the funds into Standard-Pacific L.P.
Shareholders overwhelmingly approved the conversion earlier this month to avoid paying taxes twice, once for corporate profits and again for individual company dividends.
The conversion allows for each shareholder to receive one limited partnership unit in exchange for each share of stock. The units will be traded on the New York Stock Exchange under the SPF symbol.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
