Darden Restaurants Inc. has agreed to sell Red Lobster to San Francisco-based private equity firm Golden Gate Capital for $2.1 billion in cash, the casual-dining company said Friday. After taxes and transaction costs, Darden expects to receive net proceeds of $1.6 billion, of which about $1 billion would be used to retire outstanding debt. The remaining $500 million to $600 million will be deployed for a share repurchase program of up to $700 million in fiscal 2015, the Orlando, ...
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!
Questions about your account or how to access content?