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Darden Restaurants to Spin Off 424 Restaurants into REIT

Orlando, Fla. — The board of directors for Darden Restaurants Inc. (NYSE: DRI) has approved the tax-free spin-off of select real estate and restaurant assets into Four Corners Property Trust Inc. Darden hopes to raise as much as $1 billion with the spin-off that will put 424 restaurants into the REIT.

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