This is a strategy where a company`s division is separated and made into an independent company.a.Spin-off demergerb.Equity Carve-outc.Split-up demergerd.Full sell-off

The strategy where a company's division is separated and made into an independent company is known as a Spin-off demerger. Here are the steps explaining this process:

1. Decision Making: The parent company's board of directors decides to separate a division or subsidiary into a standalone entity. This decision is usually driven by a desire to streamline operations, focus on core business, or unlock the hidden value of the division.

2. Planning: The parent company plans the spin-off, deciding on the structure, management team, and financials of the new entity. This involves a lot of strategic and financial planning.

3. Approval: The spin-off plan is then put to a vote by the parent company's shareholders. If approved, the spin-off can proceed.

4. Execution: The parent company executes the spin-off, legally separating the division into a new entity. This involves transferring assets, employees, and intellectual property to the new company.

5. Distribution: The parent company then distributes shares of the new company to its existing shareholders. This is typically done on a pro-rata basis, meaning that each shareholder of the parent company receives an equivalent stake in the new company.

6. Independence: After the distribution, the new company operates independently of the parent company. It has its own management team, board of directors, and stock listing. It is responsible for its own strategy, operations, and financial performance.