Write your text and convert it to outlines
Draw a horizontal line on the division border
Select the line, goto Object > Path > Divide objects below, Ungroup, select the upper half and move it with the arrow key few ticks upwards to have an easily reversible safety gap
Select separately both halves, insert to them envelope distortion mesh which has 1 column+ 4 rows, select with the direct selection tools the top nodes of the lower half and shift them leftwards, adjust also bending handles to get the curvature. make the opposite mod to the bottom nodes of the top half
Select the upper half and move it back to the right place.