SEC, Darden board approve real estate spin-off

SEC, Darden board approve real estate spin-off

Deal expected to reduce company debt by $1 billion

Federal regulators and Darden Restaurants Inc.’s board of directors have each approved the casual-dining operator's real estate spin-off, paving the way for the separation to take place next month.

Darden shareholders will receive shares in the real estate investment trust, Four Corners Property Trust Inc., which will become a publicly traded real estate investment trust, or REIT.

“Today’s announcement is one of the final steps in the spin-off transaction, which will a

Register to view the full article

Register to view this article

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish