GLENDALE Calif. IHOP Corp. on Tuesday said it would sell and leaseback the properties of 187 corporate Applebee's Neighborhood Grill & Bar units to garner proceeds of $347 million before taxes. After-tax proceeds are expected to total $294 million, the company said in a filing Wednesday with federal regulators. The after-tax estimate falls $56 million short of what IHOP in February had estimated the transaction would bring. Chairman and CEO Julia Stewart had cautioned investors in ...
Register to view this article
It’s free but we need to know a little about you to continually improve our content.
Registering allows you to unlock a portion of our premium online content. You can access more in-depth stories and analysis, as well as news not found on any other website or any other media outlet. You also get free eNewsletters, blogs, real-time polls, archives and more.
Attention Print Subscribers: While you have already been granted free access to NRN we ask that you register now. We promise it will only take a few minutes!