Triarc Explores Other Options To Shed Deerfield & Co.

Money Cnn:

Triarc Cos. and Deerfield Triarc Capital Corp. are exploring revised terms and conditions to their scrapped plans to sell Triarc’s Deerfield & Co. to Deerfield Triarc Capital.

Triarc, a holding company which owns 94% of the voting interests, 64% of the capital interests and at least 52% of the profit interests in Deerfield, said Monday it is also actively examining other options, including a sale of its interest in Deerfield to another buyer or a spinoff to Triarcs shareholders.

Deerfield is a Chicago-based fixed income asset manager. Deerfield Triarc Capital is a diversified financial company that is externally managed by a Deerfield unit.

Triarc, which is the franchisor of Arby’s restaurants, and Deerfield Triarc Capital on Oct. 19 mutually terminated the agreement they inked in April. Deerfield Triarc Capital cited its inability to secure financing on acceptable terms because of credit market instability.

In a press release, Triarc said there is no assurance the two companies will reach an agreement and if they do make new plans the terms and conditions would likely ‘differ materially’ from the defunct deal.