Not a spin out expert, but a few reasons I can think of right now: - preparation for a sale - raising capital for the spin out, but not the parent company -

Not a spin out expert, but a few reasons I can think of right now: - preparation for a sale - raising capital for the spin out, but not the parent company - the spin out is not part of the parent's core focus, and is something of a distraction - the parent is transitioning to more of a holding company, and looking to make further acquisitions that have nothing to do with the spinout - the spin out is an idea developed by a parent company team, and that team wants to leave the company to develop the idea, so they work out a deal where the company and the team both get a stake