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Wendy's/Arby's Announces Sale of Arby's Restaurant Group
On July 5, Wendy's/Arby's Group, Inc. announced the completion of its sale of Arby's Restaurant Group, Inc. on the terms previously announced to a buyer formed by Roark Capital Group, effective as of July 4.
In connection with the transaction, the company will change its corporate name to The Wendy's Company, effective July 5. The company's common stock will continue to trade on the New York Stock Exchange under the ticker "WEN." With the transaction complete, the company plans to focus on revitalizing the core menu, expanding into new dayparts including breakfast, modernizing their facilities, building new restaurants and pursuing global expansion.
The Paul, Weiss team representing Wendy's/Arby's in this transaction includes M&A partners Paul D. Ginsberg and Jeffrey D. Marell, counsel Da-Wai Hu; tax partner Jeffrey B. Samuels, counsel Alyssa F. Wolpin; employee benefits partner Lawrence I. Witdorchic, and counsel Reuven Falik; and finance partner Valerie Radwaner and counsel Bruce Gruder.