Alphabet completes restructuring with new firm

San Francisco

ALPHABET Inc is forming a new holding company designed to finalise its evolution from Google, the Web search giant, into a corporate parent with distinct arms that protects individual businesses in far-flung fields such as healthcare and self-driving cars.

The new entity, called XXVI Holdings Inc, will own the equity of each Alphabet company, including Google. The new structure legally separates Google from other units such as Waymo, its self-driving car business and Verily, a medical device and health-data firm.