Patriot Transportation Holding, Inc. (Nasdaq GM: PATR) announced today that it intends to separate its transportation business from its real estate businesses. The separation will result in two independent, publicly-traded companies by means of a tax-free spin-off of the transportation business to Patriot shareholders. The separation, which is subject to a number of conditions including final Board approval, receipt of an opinion of tax counsel and effectiveness of a registration statement on Form 10, is expected to be completed in the next twelve months.
