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From Times Staff and Wire Reports
General Mills Plans Restaurant Spinoff: General Mills Inc. said Wednesday that it will spin off its restaurants as a separate company, effective June 1. The as-yet-unnamed corporation will be the world’s largest full-service restaurant company, with about $3.2 billion in revenue. It will include Red Lobster, Olive Garden and China Coast restaurants. General Mills shares rose $2.50 to close at $58 in New York Stock Exchange trading.
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