Vector Group completed the spin-off of Douglas Elliman.

Vector Group, an American diversified holding company, completed the spin-off of Douglas Elliman, an American real estate company. "The filing of the Form 10 registration statement is an important milestone in our plan to create two independent publicly traded companies. With a leading luxury brand and a comprehensive suite of technology-enabled services and investments, Douglas Elliman is well positioned to capitalize on opportunities in the large and growing US residential real estate market. Following the spin-off, Vector Group’s separate tobacco and real estate businesses will be better positioned to execute their strategic plans to drive each company’s long-term success and unlock value for stockholders," Howard M. Lorber, Vector Group President and CEO.