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 then outstanding 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 an aggregate of approximately 4.0 million Class B common shares in August 1999 and August 2000 for a total purchase price of approximately $83.2 million.
Triarc has approximately 20.4 million shares of its Class A Common Stock currently outstanding.
Triarc is a holding company and, through its subsidiaries, the franchisor of the Arby's® restaurant system.
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