Wendy’s to Sell Tim Hortons Stake

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Wendy’s International Inc. said on Friday that it plans to sell a portion of its Tim Hortons business, weeks after a major shareholder sent a letter urging a spinoff of the profitable doughnut and coffee chain.


The burger chain also said it plans to convert a portion of its company-owned burger restaurants into franchises and sell some of the land it rents to franchisees. The company hopes to complete an initial public offering of 15 percent to 18 percent of Tim Hortons by the end of March and plans to retain ownership of the rest of the company.


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