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Stock impact report

Jack in the Box Inc. Completes Sale of Del Taco Holdings Inc. [Yahoo! Finance]

Jack In The Box Inc. (JACK) 
Last jack in the box inc. earnings: 2/19 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Del Taco Holdings Inc. ("Del Taco"), to Yadav Enterprises Inc. ("Yadav"). The closing of this transaction is an important step in the Company's "Jack on Track" plan to strengthen the Company's balance sheet and accelerate its shift toward a simpler, asset-light business model. The Company completed the sale to Yadav for approximately $119 million in consideration, subject to post-closing working capital and other adjustments. In connection with the closing, the Company received approximately $109 million of the consideration in cash and the remaining $10 million in the form of a 21-day promissory note, accruing interest at an 8% annual rate, fully guaranteed by Anil Yadav, founder and CEO of Yadav. Lance Tucker, Chief Executive Officer of Jack in the Box Inc., said, "Our sale of Del Taco represents meaningful progress in simplifying our business model and reducing our debt. We remain committed to elevating the Jack in the Box brand and improving operational performance to drive su Show less Read more
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