Darden Restaurants has shared new details about the pending spinoff of some real-estate assets into Four Corners Property Trust, reports the Orlando Business Journal.
In a new SEC filing, a letter from the restaurant group’s CEO, Gene Lee, declares that the spinoff company would be independent and publicly traded using the ticker symbol FCPT beginning Jan. 1. Darden would “retain no interest in Four Corners” after the spinoff, the Business Journal reports. The company’s board has yet to approve the spinoff plan.
McDonald’s last week revealed that it is close to deciding whether to create a real-estate spinoff company of its own, amid recent calls from number of investors and analysts to do so.
Read the full story via Orlando Business Journal.
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