Wendy's has announced that it will sell its majority stake in Arby's to Roark Group, an Atlanta-based private equity group, for $430 million. Wendy’s will retain an 18.5% ownership of Arby’s, reports Forbes.
Roark will pay Wendy’s $130 million in cash and assume approximately $190 million of debt related to Arby’s. Along with the stock it retains and an estimated $80 million tax benefit that will be realized over the next few years, Wendy’s values the deal at around $430 million.