OSI agrees to sell Lee Roy Selmon's

TAMPA Fla. OSI Restaurant Partners LLC, the parent of Outback Steakhouse and other brands, said today it had agreed to sell the majority of its stake in the six-unit Lee Roy Selmon’s chain to an entity led by Outback Steakhouse founders Bob Basham and Chris Sullivan.

Terms of the deal, which at press time were still subject to a definitive purchase agreement, were not disclosed. A company spokeswoman had no further comment.

Lee Roy Selmon, founder

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