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(From FinancialWire)
Byline: MIKHAIL SAVINOV
FinancialWire-2 October 2006-Wendy's Completes Tim Hortons Spinoff (C)2006 Investrend Communications, Inc.
October 2, 2006 (FinancialWire) Wendy's International, Inc. (NYSE: WEN) has completed its spinoff of Tim Hortons Inc. (NYSE: THI) by distributing 159,952,977 common shares of the Canadian donut chain.
The shares represented the 82.75% ownership stake of Tim Hortons that Wendy's held following the initial public offering of Tim Hortons in March.