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Non-Tech : SpinOffs

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From: 249443	4/26/2006 9:30:50 PM
	of 85

McDonald’s to complete Chipotle spinoff later in 2006 chicagobusiness.com April 26, 2006 Reuters) — "McDonald's Corp. on Wednesday said it would spin off its Chipotle Mexican Grill restaurants, using some of the proceeds to buy back more of its stock. The fast-food company, which has revitalized sales at its more than 30,000 restaurants with a turnaround strategy that included new products, extended hours and cashless payments, said it would sell about five million shares of Chipotle within the next two months. It then plans to complete the divestment later in 2006 by tax-free exchange of Chipotle shares for McDonald's shares."

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