Company continues refranchising push with sale of D.C. restaurants
DineEquity Inc. said Monday it planned to sell 30 corporate Applebee's restaurants in the Washington, D.C, area as part of its ongoing refranchising plan. Glendale, Calif.-based DineEquity said it entered into an asset purchase agreement with Potomac Family Dining Group for the 30 restaurants. The deal is expected to generate after-tax proceeds of about $27 million and to reduce sale-leaseback obligations associated with 10 properties by about $20 million. The transaction is scheduled to ...
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