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ORLANDO: Darden Restaurants announced Friday it has reached an agreement to sell Red Lobster to private equity firm Golden Gate Capital.Red Lobster will continue to be based in Orlando,the resident said,toms shoes outlet, and there are no immediate plans for restaurant closures. Darden would not say how many corporate employees will work for the company.The sale should close this summer.Analysts had mixed views of the sale,www.iss4thgrade.org/cheapmichaelkors.html,09 PM EDT2014-06-01 02, and Darden s stock was down 3 per cent Friday morning.It s a positive that Darden rids itself of its most troubled business, Janney Capital Markets analyst Mark Kalinowski wrote in a note to investors. The sale price seems reasonable too.Darden said it will use $1 billion to retire outstanding debt and the rest for share repurchases. However,www.siresays.com/cheaprayban.html, after a sale of Red Lobster, New Darden would still consist of seven restaurant brands,cheap ray bans, Kalinowski wrote.After the $2.1 billion sale, Darden expects to receive net cash proceeds of about $1.6 billion. Golden Gate plans to do a sale-leaseback of restaurant property.Hedge fund Starboard Value has been trying to halt the sale and recently persuaded holders of 57 per cent of Darden stock to vote in favour of a special meeting to weigh in on a sale or spinoff of the brand. Starboard officials could not immediately be reached for comment.The announcement is a thumb in the eye of activist investors,ray ban sunglasses outlet, Kalinowski wrote. He titled his research note, Who knew lobsters had middle fingers? In a slide presentation, Darden said the process would be extremely difficult to restart if it were significantly delayed,\ and that would risk further decline in Red Lobster s performance and a less attractive price.Darden said in a press release it still plans a special meeting on the matter.Golden Gate used to own Romano s Macaroni Grill, which it sold last year to Ignite Restaurant Group. Its investments have also included California Pizza Kitchen,and you smelled good and you sounded good,www.aimer-resister.net/uggs.html, Payless ShoeSource,land taxes,fake uggs,are former French colonies., Eddie Bauer, Express, Zales, J.Jill and Pacific Sunwear.Some of its recent acquisitions have been Springs Window Fashions, ArrMaz Custom Chemicals, and Ex Libris Global Holdings. Most private equity firms are the same they try to buy a beat up brand like this and then what they ll do is typically go in and try to cut significant costs out of the system,cheap toms, said Steve West,the Army of Mujahideen,http://www.iss4thgrade.org/cheapmichaelkors.html,and registering in it again, an analyst who covers Darden for Investment Technology Group.MCT