USA: Triarc Purchases 2.0 Million Class B Common Shares
Triarc Companies, Inc. (NYSE: TRY) announced today that the Company purchased 1,999,207 non-voting Triarc Class B common shares held by affiliates of Victor Posner at a per share price of $21.18, for a total purchase price of approximately $42.3 million. As previously announced, under a definitive purchase agreement, approved by Triarc's Board of Directors in August 1999, the Company agreed to purchase for cash all of the 5,997,622 non-voting Triarc Class B common shares held by Victor Posner affiliates in three separate transactions, at prices ranging from $20.44 to $21.93. The Company previously purchased approximately 2.0 million Class B common shares at $20.44 per share in August 1999. The remaining approximate 2.0 million shares are to be purchased at $21.93 per share on or before August 19, 2001, subject to extension in certain limited circumstances. Triarc may accelerate the purchase of the remaining Class B common shares, pursuant to the terms and conditions of the definitive purchase agreement. Triarc has approximately 22.0 million shares of common stock (including the remaining approximate 2.0 million Class B common shares) currently outstanding. Triarc is a leading premium beverage company (Snapple(R), Mistic(R), Stewart's(R)), a restaurant franchisor (Arby's(R), T.J. Cinnamons(R) and Pasta Connection(R)) and a producer of soft drink concentrates (Royal Crown(R), Diet Rite(R), Nehi(R)).
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 14 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Analysis - Remy's Cognac "dead-cat bounce"
- Comment - How Hand-Made is Tito's Handmade Vodka?
- Heineken to stay "active player" in beer M&A - CFO
- Focus - Pernod Ricard's Q1 sales by brand
- Time for Heineken to make a European break
- Moët Hennessy unveils first Travel Retail outlet
- United Spirits sees Q1 net loss
- Whisky downturn slows Diageo's Scotch spend
- Beam Suntory, Edrington part ways in Travel Retail
- Pernod Ricard sees sales lift in Q1