GLENDALE Calif. Applebee’s parent DineEquity Inc. has completed the sale of 26 company-owned restaurants to Southern California franchisee Apple American Group LLC for an estimated $27 million in after-tax cash that will be applied toward the company’s $350 million of consolidated debt, officials said Tuesday. DineEquity also said it has secured an extension to Aug. 31 on its debt payment, which previously was due June 30.Earlier this year, the company sold and leased back 181 ...
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Contact: Desiree Torres Desiree.Torres@penton.com