Triarc divesting financial arm to focus on Arby’s

NEW YORK Arby’s system, Triarc Cos. Inc. has agreed to sell its investment advisory firm, Deerfield & Co. LLC, for nearly $290 million in cash and stock to Deerfield Triarc Capital Corp. —In an effort to focus on its 3,600-plus-unit

Billionaire Nelson Peltz, chairman of Triarc Cos., stepped down as chairman of Deerfield Triarc Capital before the deal was negotiated, according to Triarc, which would continue to hold a 10-percent stake in the renamed Deerfield Capital after the expected completion of the sale in the third quarter. —In an effort to focus on its 3,600-plus-unit